Displaying 170 results
New DOL rule no big deal, says Stifel’s Kruszewski
"It appears to be less restrictive than what was proposed," says CEO.
Don’t repeat 2016 fiduciary rule mistake, NAIFA urges DOL
'Real-world experience' shows impact of fiduciary standard on Main Street investors, advisor association warns.
ARA, Ceres throw support behind DOL ESG rule for 401(k)s
The two nonprofits are urging the Court of Appeals to uphold a lower court decision supporting a 'middle-of-the-road' approach for fiduciaries.
DOL limits companies with foreign convictions from managing 401(k) assets
The regulator for years has granted exemptions for financial institutions whose affiliates have been convicted of financial crimes overseas.
Expect a stronger, more lawsuit-proof fiduciary rule very soon
With the final version of the rule now at the Office of Management and Budget, it won't be long before it's published. Don't expect a lot of changes, lawyers say.
A government site for all your 401(k) data?
The Government Accountability Office wants Congress to mandate a national 401(k) dashboard.
DOL retirement security rule would be ‘disastrous,’ GOP rep says
Democrats at a House hearing say the retirement rule will ensure workers, retirees and retirement plan sponsors receive advice that is in their best interest.
FSI presses SEC to end ‘regulation by enforcement’
FSI says regulator must start giving accused fair notice that behavior is out of compliance.
Case over fishing law could hamstring the SEC and DOL
If the Chevron deference is overturned, 'the SEC will no longer be able to create new rules that are designed to apply to new things going on in the marketplace,' an attorney says.
What to expect while you’re expecting the fiduciary rule
Although there will almost certainly be a legal challenge, don’t count on it going away, lawyers say. Here are some big issues to watch for.
DOL gives go-ahead to auto enrollment in emergency accounts
The regulator issued a set of answers to frequently asked questions addressing contributions, limits and investment types.
FSI seeks to reboot suit to stop DOL independent contractor rule
The final DOL rule threatens the independent status advisors 'rely on...as they build their businesses,' says FSI CEO Dale Brown.
Moisand helps amplify CFP Board’s voice in fight for fiduciary advice
In one of his last actions as CFP Board chairman, Daniel Moisand testified at last month’s hearings on the Department of Labor’s latest advice proposal.
Most Democrats support DOL advice proposal in House hearing
'We ought to require the best interests of the investor to be protected and we’ve got some loopholes to fill,' says top Democrat on the panel.
Advisors worry about losing independence under DOL contractor rule
'We're small business owners; we’re entrepreneurs,' advisor says. 'I don't know what that would look like if we're suddenly employees of a broker-dealer.'
Industry, investor advocates square off in comment letters about DOL advice rule
Battle lines drawn again as trade associations call on DOL to withdraw proposal, while proponents say measure fills a regulatory gap.
Insurance industry seeks carve out from Massachusetts ‘junk fees’ proposal
Separately, Empower joins industry chorus calls on DOL to withdraw its retirement security proposal.
DOL hearing parses intersection of ‘best interest’ and annuity sales
'It’s crystal clear for the prospective client that the insurance producer is selling,' says an insurance industry representative.
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.'
Fiduciaries must show they can serve Main Street investors to win DOL rule debate
'They’re making x dollars in a brokerage account,' says advisor. 'Just charge the client x but give them fiduciary advice for that x.'
