As you know, the U.S. Department of Labor announced that it will withdraw the proposed regulations regarding the definition of "fiduciary" for purposes of providing investment advice and re-issue them in early 2012.
The DOL indicated that withdrawal of the regulations was "in part a response to requests from the public, including members of Congress, that the agency allow an opportunity for more input on the rule."
The DOL also cited a presidential executive order that was issued earlier this year that directed all regulatory agencies to review their regulations in order to avoid "unjustified costs and burdens."
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