February 3, 2017 / 10:07 PM / 7 months ago

Labor Dept. looks into delaying fiduciary rule after Trump's order

U.S. President Donald Trump talks to journalists members of the travel pool on board the Air Force One during his trip to Palm Beach, Florida while flying over South Carolina, U.S., February 3, 2017.Carlos Barria

WASHINGTON (Reuters) - The U.S. Labor Department is looking into delaying the implementation date of its new fiduciary rule governing the advice that brokers can give about retirement investments, it said on Friday, after President Donald Trump called for a review that could ultimately lead to scrapping it.

“The Department of Labor will now consider its legal options to delay the applicability of the date as we comply with the president’s memorandum,” Acting U.S. Secretary of Labor Ed Hugler said in a statement.

Reporting by Lisa Lambert; Editing by Jonathan Oatis

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