Yes, I get it. President Donald Trump issued a presidential memorandum instructing the Department of Labor (DOL) to review the rule. Although the White House floated a draft memorandum indicating that it would be delaying the rule, which is scheduled to go into effect in April, the final memorandum didn’t actually delay the rule. The memorandum only ordered the DOL to review the rule.
So it’s not a delay, but it certainly will be one. Clearly, the fiduciary rule and other forms of financial regulations are in the crosshairs of the new administration, so telling the DOL to review the rule is almost the same as telling them to shelve it or delay it. How can they properly review the rule, without the DOL actually delaying its implementation? Those aren’t alternative facts.