NAREIT joined a coalition of industry groups on April 21 in requesting an extension of the comment period for a proposed rule from the Department of Labor to impose a fiduciary duty on all retirement savings advisers.
In a letter to the Labor Department, the organizations requested a 45-day extension to the comment period for the rule. If granted, the extension would increase the comment period to a total of 120 days.
The industry groups said the extension was necessary to “provide adequate time for the associations and their respective members to determine whether they can effectively service the needs of retirement investors within the framework presented in the” proposed rule.
CLICK HERE to read the entirety of the letter to the Labor Department.
(Contact: Victoria Rostow at vrostow@nareit.com)