Displaying 71 results
Speed of DOL fiduciary rule rollout branded ‘unAmerican’
Opponents left disappointed after final rule released, DOL accused of 'conducting an ideological campaign to ban commissions'.
Industry holds breath on DOL’s final fiduciary rule
Following debate from advisors and retirement plan stakeholders, the Department of Labor is set to unveil its final decision on the rule.
OMB draws flak on DOL fiduciary rule decision
Industry groups express disappointment at the Office of Management and Budget's speedy review of the controversial rule.
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.
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.
FPA, CFP Board diverge on DOL investment advice proposal
While the CFP Board supports the proposal, the FPA has expressed concerns about the DOL rule potentially raising compliance costs for members, increasing the cost of advice and reducing access to advice for some.
Critics of DOL fiduciary proposal work to generate Democratic opposition
‘When you have both sides come together and support something – or in this case oppose something – we can put forth better policies for retirement savers,’ says a financial industry lobbyist
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.
House passes bill to halt ‘bureaucratic’ agency rulemaking
The legislation is unlikely to get the president's signature, and it probably couldn't stop the DOL's fiduciary rule.
The insurance industry really doesn’t like the DOL’s proposed rule
Independent agents who sell annuities could be fiduciaries for the first time.
DOL’s rule would add a lot of fiduciaries into the mix
But even those who already work in a fiduciary capacity will be affected, one lawyer says.
DOL’s apparent U-turn in court hints at new fiduciary rule in works
The American Securities Association says the Labor Department voluntarily dropped its appeal of a Florida court's decision striking down DOL guidance making rollover advice fiduciary.
DOL arms investors with rollover questions that could catch some advisers off guard
The timing of those questions, such as 'are you a fiduciary?' is not great for advisers relying on the DOL’s temporary enforcement policy until Dec. 20, the compliance deadline for the new rules, one lawyer said.
Cure the harm Trump administration caused savers
Data suggest that the adoption of the SEC’s vague Regulation Best Interest and the abandonment of a strengthened DOL standard for retirement accounts have already cost savers billions of dollars in lost returns.
DOL will let Trump-era fiduciary rule stand
The rule, which was proposed last year and goes into effect next Tuesday, essentially replaces the defunct Obama-era version that regulated investment advice for 401(k)s and rollover IRAs. It provides an exemption for investment advice fiduciaries under the Employee Retirement Income Security Act.
Obama-era fiduciary rule cut sales of expensive annuities: Study
Even though a federal appeals court vacated the measure in 2018, its impact lives on
Until Reg BI enforcement starts, we’ll have to take brokers’ word it’s working
Or you can rely on state securities regulators to provide data about advice reform
DOL advice proposal criticized by both sides at hearing
Fiduciary status test draws criticism for creating loopholes, casting net too widely
DOL’S ESG proposal would hurt retirement accounts
The proposal fails to account for evidence that long-term investors, like retirees, are likely to earn better returns
