Coalition argues that 60-day comment period is insufficient

  • Business groups request more time to respond to fiduciary proposal
  • Coalition of 18 groups argue that 60-day comment period is unprecedented
  • Comment period runs over multiple federal holidays, reducing actual working days

A coalition of 18 business groups, including the U.S. Chamber of Commerce, Financial Services Institute, and Investment Company Institute, is requesting a longer comment period from the Department of Labor for its proposed fiduciary rule for retirement advisors. The groups argue that a 60-day comment period for such a major proposal is unprecedented and that the actual number of working days will be considerably shorter due to the inclusion of multiple federal holidays. They believe that more time is needed to thoroughly review and provide meaningful feedback on the proposal.

Public Companies: U.S. Chamber of Commerce (), Financial Services Institute (), Investment Company Institute ()
Private Companies:
Key People:

Factuality Level: 8
Justification: The article provides factual information about a coalition of business groups asking for a longer comment period on the proposed fiduciary rule. It mentions the specific groups involved and their argument about the comment period being unprecedented. However, the article is very short and lacks in-depth analysis or additional context.

Noise Level: 3
Justification: The article provides some relevant information about a coalition of business groups asking for a longer comment period on a proposed fiduciary rule. However, it contains a lot of noise and filler content, such as the mention of signing in to read Barron’s Advisor, which is unrelated to the main topic.

Financial Relevance: Yes
Financial Markets Impacted: The proposed fiduciary rule for retirement advisors may impact financial services companies and the investment industry.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses a request by business groups for a longer comment period on a proposed fiduciary rule. While this may have implications for financial markets and companies in the investment industry, there is no mention of an extreme event or its impact.

Reported publicly: www.barrons.com