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Insurance industry seeks carve out from Massachusetts ‘junk fees’ proposal
Separately, Empower joins industry chorus calls on DOL to withdraw its retirement security proposal.
Industry opponents call on DOL to withdraw retirement advice proposal
On day one of public hearing, critics argue potential new measure will alienate some clients and is 'overbroad, unnecessary and inconsistent.'
Biden criticizes advisors who prioritize their pay over clients’ returns
'I just want you to know we're watching,' President Biden warns advisors who put their own interests above needs of clients.
Survey shows inflation increases retirement savings worries
The American Council of Life Insurers included questions in the poll that it says show a DOL fiduciary rule would hinder access to retirement advice.
Bipartisan retirement savings bill foreshadows post-SECURE 2.0 debate
Senate and House members introduce a measure that would establish retirement accounts for low- and middle-income workers not covered by an employer plan.
Senate approves bill to streamline regulatory paperwork for index-linked annuities
Supporters say the measure will help consumers grasp the product, a kind of variable annuity touted for its downside protection and used in retirement savings.
Policy trumps democracy for most lobbyists ahead of midterms
Many trade groups representing financial advisers have donated to at least one lawmaker who objected to certifying the 2020 presidential election.
Fiduciary-only advice rule would harm investors, ACLI warns
As the DOL prepares another rule related to fiduciaries, an insurance trade association says access to commission-based advisers is at stake, while an investor advocate criticizes the trade group's poll.
Kentucky, Mississippi latest states to adopt annuity best interest rule
In a recent speech, SEC Commissioner Allison Herren Lee pointed out how the annuity rule differs from Reg BI on mitigating conflicts of interest.
Why adviser groups won’t completely shun lawmakers who voted to overturn the 2020 election
The Investment Adviser Association isn't giving to the 147 legislators who voted to decertify presidential results. The Investment Company Institute has suspended donations for now. Other groups left the door open.
Trade groups step up fight against bill they say threatens independent advisers
Opponents contend the measure, known as the PRO Act, could negate independent-contractor agreements between advisers and financial firms.
Trade groups join push for e-delivery of investment documents
SIFMA, Investment Adviser Association, and others, are pushing the SEC to make electronic delivery the default option
DOL rule requires lifetime income estimates on retirement plan statements
The regulation would implement a SECURE Act provision intended to help savers assess their nest eggs
Massachusetts fiduciary rule won’t cover variable annuity sales
The Securities Division says the state considers VAs to be insurance products, not securities
Trade associations plan to step up political spending in campaign year
The Financial Services Institute and an insurance group are among those varying from their pace in previous cycles
Brokerage industry groups dominate campaign spending out of the gate for 2020 cycle
Political donations cross the aisle as lobbyists try to make friends on both sides.
DOL rule enables small businesses to offer retirement plans through trade associations
While the measure was praised by people in the retirement-savings sector, its release spurred a renewed push for passage of the SECURE Act.
Senate tries to put SECURE retirement bill on fast track
Supporters want to maintain momentum of 417-3 House approval.
LTC insurer offering co-pays to blunt soaring premium increases
John Hancock policyholders would get a discount on their premium in return for agreeing to pay a bigger portion of their claims in the future.
Insurance lobby plans blitz to get retirement bills through Congress quickly
Effort off to fast start with bipartisan House support, but skeptics questions annuities provision.
