This is what the Labor Department will likely tweak, attorneys said.
Now, the Labor Department is trying again, though its rule likely won't be as far-reaching, experts said.
The OMB has 90 days to review the rule, Borzi said, after which the Labor Department would issue its proposal publicly.
watch nowBased on recent legal clues, attorneys expect the Labor Department will seek to raise the bar on all rollover advice provided by the financial ecosystem.
That generally means investment advice must be given solely in investors' best interests.
Persons:
IRAs IRAs, Phyllis Borzi, Obama, Reish, —, Borzi, Andrew Oringer, Sen, Bill Cassidy, Virginia Foxx, There's, They're, Fred Reish, Drinker Biddle
Organizations:
U.S . Department of Labor, Washington , D.C, Washington Post, The Washington Post, Getty, Investment Company Institute, ICI, Labor, Pew Research Center, Labor Department, Management, Budget, OMB, Wagner Law, Critics, Rep
Locations:
Washington ,, IRAs