The U.S. Department of Labor is pushing back its timeframe for releasing a highly anticipated proposal for expanding fiduciary responsibilities for advisers who work with retirement plans.
Speaking at the Financial Services Institute's Financial Advisor Summit, Phyllis Borzi, the Labor Department's assistant secretary for the Employee Benefit Security Administration, said that her agency is continuing to revise its proposal, and that it is more concerned about getting it right than delivering it in on the previously announced schedule.
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