Acosta said there's "no principled legal basis to change the June 9 date while we seek public input".
"Trust in Americans' ability to decide what is best for them and their families lead us to the conclusion that we should seek public comment on how to revise this rule". It also changes the definition of who is a fiduciary when it comes to advising employers on their 401 (k) s, pensions and other retirement plans.
The DOLdelayed portions of the Obama administration's regulatory package that aimed to reduce the allegedly conflicted investment advice given to retirement savers until June 9.
"Assuming the compensation is reasonable, such an approach is a potentially powerful means of reducing conflicts of interest with respect to mutual fund recommendations and correspondingly reducing the need for heightened surveillance around adviser conflicts of interest", the DOL said of clean shares.
The announcement dashes the hopes of many in the financial services industry who wanted a more substantial delay.
Pamela Banks, senior policy counsel for our colleagues at Consumers Union, said in a statement that the "common-sense changes are long overdue", but remained cautious about the rule's future. The Labor Department stepped in after progressive activists and politicians rallied around the rule they say helps protect consumers from dishonest financial advisers.
Mouse with 3D-printed ovaries gives birth to healthy pups
The framework underpins the survival of the mouse's juvenile egg cells and the cells that deliver hormones to lift generation. With such ovary implants using 3D printed ovaries, infertile mice restores their fertility and gives birth to healthy pups.
Billiton name to disappear from BHP
Major growth projects valued at up to US$25 billion offer potential average returns of over 16 per cent at consensus prices. Elliott, run by billionaire Paul Singer, has accused BHP of adopting a "do nothing" approach to its three-pronged proposal.
Under the fiduciary rule, an advisor would be required to determine what would best suit a given customer's needs, even if they don't offer that product or service.
Variable annuities can provide higher returns from the stocks or bonds they are tied to, but they are riskier than fixed annuities, which pay a set income to an investor for life.
"This decision will make it harder for many Americans to save for a dignified retirement".
Business groups and financial firms detest the rule and challenged it in court soon after it was promulgated. "Now that the fiduciary rule is cast in stone, common rollover practices violate regulations".
This means all fees and commissions must be clearly communicated, and advisors can not hide any conflicts of interest with regard to selling certain products or services. The fiduciary rule is a highly contested piece of legislation produced during President Obama's time in office.
Opponents also say the Labor Department overstepped its legal authority and overruled a peer agency.
Major Republican legislation to unwind the Dodd-Frank law, now pointed toward a vote by the U.S. House, would repeal the Labor Department rule.
"Under the Obama administration, the Securities and Exchange Commission declined to move forward in rule-making". The short answer provided by the Labor Department is, "it's possible", certainly following the results of the analysis directed by President Trump. "We will do so while respecting the principles and institutions that make America strong".
The U.S. also has pressed unsuccessfully for the release of Andrew Brunson, an American pastor, and other detained U.S. citizens. He warned cryptically that Turkey, which has its own troops in Syria, has the authority to defend its interests in that country.
During his briefing, Jones presented photographs showing some evidence of the building believed to be a crematorium . The Syrian Foreign Ministry dismissed the claims as "a new Hollywood story detached from reality ".
The iPhone has been a symbol of technological innovation for years, but it has been slipping since the iPhone 5. Looking at the pricing above, the iPhone 8's pricier retail price doesn't seem outlandish.
Without the deal, no new loans can be disbursed to Athens, even though the bailout is now handled only by euro zone governments. Macron explained his thinking about Greece in an interview to the Mediapart website two days before his election.
CA has given players the green light to speak their minds during ongoing pay talks, insisting they respect all views. Australia, now ranked No3 in the world Test rankings, play a two-match red-ball series in Bangladesh in August.
The high tomorrow will be only in the low 70s, and there is a good chance we will establish a new record low maximum for May 24. The high will be near 63, with a north northwest wind of 8 to 13 miles per hour , gusting as high as 20 miles per hour .
Juice drinks are composed of up to 99% fruit juice and they are not equivalent in nutritional value to 100% fruit juice. Some studies have found an association between heavy juice consumption - in excess of 12 ounces per day - and obesity.
The dollar index, which measures the greenback's value against a basket of six major currencies, eased 0.1 percent to 98.805. The dollar index, which tracks the US currency against a basket of six major rivals, was last at 98.118, flat on the day.
Ferrand also said the names of Macron's 577 candidates in the legislative elections would be announced this Thursday. Ms Le Pen called for France to leave the European Union and drop the euro currency in favour of the franc.
Expectations of a rate increase in June fell to 74 percent compared to 84 percent last week, according to the CME Fedwatch. US crude fell 0.49 percent to $48.61 per barrel and Brent was last at $51.62, down 0.39 percent on the day.
Destiny 2 geared up for upcoming release on PC
Bungie also announced that the Crucible , Destiny's competitive multiplayer, would be moved to 4v4 game modes across the board. Along with setting the story, the teaser also revealed a lot of information about new armors and battle gears.
Curtain falls on 'Greatest Show on Earth' after 146 years
After more than 100 years in operation, CEO Kenneth Feld chose to close down the circus, citing a dramatic dip in ticket sales. Barnum's traveling museum in the 1800s, performed its final show at the Nassau Veterans Memorial Coliseum in Uniondale, N.Y.
Is China unstoppable in the South China Sea?
During the visit, China and the Philippines agreed to a US$72 million grant, instead of loans, for social and economic planning. Paraphrasing his conversation with Xi, Duterte said he told the Chinese president: "We intend to drill [for] oil there".
Spain's Alvaro Quiros wins playoff in Sicily
Quiros' double-bogey at the par-4 16th - which included a penalty drop - enabled Lombard to tie for the lead. The Spanish player's victory earns him a place in the line-up for next week's PGA Championship at Wentworth.
Palestinians injured during rallies for prisoners
Muataz Hussein Hilal died after the Israeli man shot into a crowd of people who were throwing rocks at his auto . Some have managed to pressure Israel into releasing them, although some have been re-detained.
HTC U11 With Snapdragon 835 Chipset Unveiled
With its latest flagship device, HTC is taking this a step further by allowing the phone to be operated with a squeeze. The carrier is throwing in two Amazon Echo Dots with U11 preorders for a limited time.