washington u.s. labor department take first step toward possible derailment dilution controversial rule retirement advice begin re-examine directive president donald trump accord notice make public wednesday department propose 60-day delay fiduciary rule require retirement advisers put interest clients ahead slat take effect april 10 trump ask department review rule one time impact investors industry analysts consumer group agree could first multiple delay department begin comprehensive review obama-era regulation trump february issue executive order direct department review rule 60-day delay relatively short undertake type economic legal analysis contemplate suggest go 60-day delay likely go string delay say micah hauptman consumer federation america propose delay calm effect marketplace hang limbo ahead april 10 effective date say denise valentine senior analyst aite group advise financial service industry regulatory issue along kind know rule likely amend think kill valentine say public 15 days publication propose delay federal register thursday comment delay labor department formalize also 45-day window submit comment information relate aspects trump memorandum u.s. chamber commerce sue kill rule wednesday praise propose delay former president barack obama administration finalize rule last year say move help americans save retirement critics financial service industry say rule would limit ability advisers service clients afford pay financial advice must use products carry commission indirect cost trump issue executive order white house spokesman sean spic call rule solution search problem brief ahead sign move draw fire democrats critics say show republican white house align wall street middle-income americans industry group however praise delay propose wednesday securities industry financial market association say would allow new administration opportunity review rule impact investors market ubs wealth management americas morgan stanley well fargo co.n decline comment bank america immediately respond request comment labor dept propose delay new rule financial advisers