DOL Denies Request to Extend Fiduciary Rule Comment Period
Therefore, Gomez said, “at this point, EBSA does not intend to extend the comment period or delay the hearing.”
Eighteen financial services trade groups pressed the department on Nov. 8 to extend the 60-day comment period on its new fiduciary rule, the Retirement Security Rule, and amendments to the prohibited transaction exemptions, as the plan “makes significant and unanticipated changes to the current regulatory framework.”
EBSA, Gomez told SIFMA, “remains committed to receiving public comments and looks forward to the hearing, which will be held virtually,” beginning on Dec. 12.
Additionally, Gomez said, “one benefit of holding the public hearing before the comment period closes is that the testimony will inform the comments EBSA receives. EBSA encourages all interested parties to testify, watch the virtual hearing, and respond to, clarify, and emphasize points that are made during the hearing when submitting their comments” by the January deadline.
