The win could provide fodder in other legal defenses, and supports the contention that comparing fund costs to Vanguard doesn't always provide an accurate barometer.
Report predicts 7 million holders of retirement accounts could lose investment advice.
Agency says firm and its CEO failed to disclose fees.
Though his decision not to delay the June 9 applicability date of the rule might seem like a blow to opponents, Mr. Acosta made it evident that revising the measure is the endgame.
Firm will pay $650,000 for suitability, compliance and books and records violations.
The rehearing was granted after the initial decision was appealed by former investment adviser Raymond Lucia, who was banned from the industry for life.
With executive orders, bureaucratic actions and unprecedented use of an obscure statute, the administration has killed or postponed dozens of regulations.
Insurers are introducing fixed-rate deferred annuities with income guarantees to circumvent BICE.
In many circumstances, commission-based services offer clients a more economical and practical way to meet investment goals.
Some large brokerages such as Morgan Stanley, Edward Jones and Raymond James have seen a surge in advisory assets a year on from promulgation of the retirement regulation.
Mutual fund sales will be limited to T shares, while municipal bonds, preferred stock and international debt will be prohibited.
Once signed by governor, law will allow banks and securities firms not to process questionable transactions.
The secretary of Labor should improve the regulation, not repeal it
Retirement plan fee-disclosure rules from 2012 show that sponsors — and likely participants — rarely read such notifications and, if they do, don't understand them.
The DOL also hinted that clean shares may offer an avenue for an additional rule exemption, potentially as a replacement or alternative to BICE.
One of the lawyers recoving money from the Ponzi schemer has been paid nearly $40 million in fees, but has yet to distribute any money to those who got swindled.
Many advisory firms have been progressing in changes required to meet the new regulation, despite the first delay and a broader review that continues.
It won't be delayed beyond June 9, but there could still be wholesale changes to the rule in the future. (<b>More:</b>​ <a href="http://www.investmentnews.com/gallery/20170523/FREE/523009998/PH" style="color:#b10816" target="_blank">DOL Fiduciary Rule: What you need to know about Acosta's decision) </a>
Big DOL fiduciary rule news requires a big reaction &mdash; at least on Twitter. Here's what people were saying about the news that the rule will become applicable beginning June 9
Congress might double contribution limits separately if health care bill falls apart in Senate, consultant says.
