Home » post » To Help Consumers, DOL Removes Consumer Information

Our mission

Free Government Information (FGI) is a place for initiating dialogue and building consensus among the various players (libraries, government agencies, non-profit organizations, researchers, journalists, etc.) who have a stake in the preservation of and perpetual free access to government information. FGI promotes free government information through collaboration, education, advocacy and research.

To Help Consumers, DOL Removes Consumer Information

The Department of Labor (DOL) has deleted a blog post and a consumer FAQ that explained the benefits of a rule that requires financial advisers act in the best interest of their clients. Both the blog post and the FAQ explained the benefits of the “Conflict of Interest Rule.”

The Conflict of Interest Rule became effective in June of 2016 and was set “become applicable” on April 10, 2017. In February, however, President Trump directed the DOL to re-examine the rule because it “may not be consistent with the policies of my Administration.” In response, the DOL issued a notice of its intention to delay the applicability of the rule for 60 days. Comments on the delay are due on or before April 17, 2017. Investment News also reported earlier that the agency will need more than 60 days to conduct its assessment of regulation.

The President’s statement says that these actions are meant to “empower Americans to make their own financial decisions” and the Department’s notice says that it will examine if the rule will “adversely affect the ability of Americans to gain access to retirement information and financial advice.”

CC BY-NC-SA 4.0 This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Leave a comment

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.