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DOL rule described as 'workable' and a political success

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The Department of Labor's new fiduciary rule received high marks for political diplomacy and for being “workable,” according to a panel of experts speaking Thursday during an InvestmentNews webcast.

“My first impression is that a number of aspects are considerably more workable than the original draft, which shows some great compromise reflecting all the comments,” said Jason Roberts, chief executive of Pension Resource Institute.