Is Single-Payer The Next To Upset The Status Quo?
What is going to happen with health care legislation? Since history repeats itself, we decided to look at some major legislative issues from the past to try and get some idea.
John Hilton
DOL Seeks 18-Month Delay of Fiduciary Rule
If approved, documents sent to the Office of Management and Budget today would delay phase two of the Department of Labor fiduciary rule by 18 months to July 1, 2019.
DOL Releases New Round of Fiduciary Rule FAQs
A new guidance from the Department of Labor address some key sticking points for advisors acting as non-fiduciaries to defined contribution plans. For the most part, the department adopts a lenient stance toward compliance with fiduciary mandates.
DOL Rule Opponents Have Good Day in Appeals Court
Department of Labor fiduciary rule opponents find a friendly court during a Fifth Circuit Court of Appeals hearing Monday. Judges sympathize with industry claims of overreach by the government in crafting the financial services regulation.
Legal Fight To Stop DOL Rule Returns To Court
Opponents of the controversial Department of Labor fiduciary rule will take another shot Monday at persuading a court to overturn the regulation. This time, the Fifth Circuit Court of Appeals will hear the case.
Next on the GOP Calendar: Tax Reform
With health care seemingly dead, lawmakers are expected to tackle tax reform next. Trump and GOP congressional leaders share a desire to cut taxes. Will they succeed?
DOL Official: Help Me Improve Fiduciary Rule
Top Department of Labor official joins the National Association of Insurance Commissioners to discuss collaboration on the future of the fiduciary rule. Better data from the insurance industry is needed, DOL deputy secretary says.
Analysts: DOL Rule Could Be Pushed Out to 2020
The Department of Labor could delay phase two of its controversial fiduciary rule by two years, analysts say. Phase two is slated to take effect Jan. 1, 2018, but could be delayed by one year, with financial services getting a year beyond that to comply.
Panel: DOL Rule Will ‘Most Certainly’ Be Delayed
The Department of Labor fiduciary rule’s harshest mandates will for sure be delayed beyond the Jan. 1, 2018 effective date, a panel of experts agreed today. Whether those mandates are softened or not remains to be seen.
Mixed Reviews on Wagner Bill to Scrap DOL Rule
A new bill by Rep. Ann Wagner, R-Mo., draws mixed reviews at a House subcommittee hearing today. The bill would scrap the Department of Labor fiduciary rule in favor of a more industry friendly standard.
Trump’s DOL Backs Fiduciary Rule in Legal Brief
Any thoughts that new Labor Secretary Alexander Acosta would decline to defend the controversial fiduciary rule went out the window with a brief filed Monday in the Fifth Circuit Court of Appeals.
Comments Frame SEC Fiduciary Debate
The SEC is hinting at taking up fiduciary rulemaking. New Chairman Jay Clayton kicked off the process June 1 by soliciting public comment. Investors and advisors responded with concerns.
IMOs Have Tricky Path To Sales Under DOL Rules
IMOs and FMOs should be fine to sell variable and fixed indexed annuities under the transition Best Interest Contract for the rest of the year, a pair of experts say. But a definitive word is unknown.
States Pushing Fiduciary Rule Standards (With Success)
States are charging into the fiduciary pool, with Nevada passing a fiduciary standard for any advisors licensed to do business in the state. Others are seeking fiduciary language via other means.
If the GOP doesn’t get its border tax proposal, it will be looking for revenue, and retirement plan incentives could be in the crosshairs.
Could Financial Advisors Go The Way Of The Traditional Camera?
Technology has made the traditional camera obsolete, and financial advisors could be the next to find themselves discarded in the wake of new technology, according to a speaker at an Insured Retirement Institute conference.
A panel discussion at an industry conference looked at what could be next for the fiduciary rule.
Acosta: DOL Rule Concerns ‘Not Heard’ by Obama Appointees
Labor Secretary Alexander Acosta blasts the Obama administration for failing to consider industry concerns about the fiduciary rule. The DOL is busy reviewing the rule for possible changes, he told a House subcommittee today.
Here’s Your Guide to ‘Reasonable’ Comp Under DOL Rule
Any lawyer can sue on recommendations made after June 9 under the new fiduciary rule, one industry analyst says. Here’s what agents/advisors need to do to meet the new compensation regs.
DOL Rule Not Carved in Stone, Experts Say
Literally all avenues remain open to Labor Secretary Alexander Acosta to amend or rewrite the controversial fiduciary rule, analysts say. The rule begins to take effect June 9.
Acosta Declines to Delay DOL Fiduciary Rule
The Department of Labor fiduciary rule will begin taking effect as scheduled on June 9 after new Labor Secretary Alexander Acosta declined to delay the rule again.
Lawmakers to Trump: Delay the DOL Rule
Industry witnesses joined House Republicans Thursday in calling on President Donald J. Trump to further delay the Department of Labor fiduciary rule. The rule is slated to take effect in two phases: June 9 and Jan. 1, 2018.
All Eyes on Acosta as DOL Rule Clock Winds Down
Newly sworn-in Secretary Alexander Acosta holds the fate of the Department of Labor fiduciary rule. Will he choose to fight to delay and amend the Obama-crafted rule? Absent a reprieve, the rule begins taking effect June 9.
DOL Rule, Dodd-Frank Face Intransigent Senate
Republican-led House is eager to pass legislation gutting Dodd-Frank and blocking the Department of Labor fiduciary rule; Will the Senate go along?
Lawmakers to DOL Secretary: Kill That Rule
More than 100 Republican lawmakers sign a letter asking Department of Labor Secretary Alexander Acosta to eliminate the fiduciary rule.
DOL Fiduciary Rule Comment Period Closes
Comments were accepted for 15 days on a 60-day delay of the rule, and for 45 days on the rule itself. Now we wait to see what the Department of Labor does next.
Fiduciary Rule Comments Due By Monday Night
The Department of Labor is accepting public comments on its controversial fiduciary rule through the end of the day Monday. Recent history indicates that public feedback is effective in shaping a final rule.
DOL Not Backing Down From Fiduciary Rule, Analysts Say
The Department of Labor delayed its controversial fiduciary rule by 60 days, but it a closer look reveals the agency is not backing off the tougher aspects of the rule, a leading law firm states.
Warren’s Fuzzy Math On Fiduciary Rule Doesn’t Add Up, Analyst Says
Sen. Elizabeth Warren, D-Mass., says the 60-day delay in the Department of Labor fiduciary rule will cost investors nearly $4 billion over 30 years. But are her numbers correct? Not even close, one expert says.
DOL Delay of Fiduciary Rule Out Today
The Department of Labor could use the 60-day delay to rework the more controversial aspects of the Obama-authored fiduciary rule, analysts say.
IMOs to DOL: Delay Rule and Fix Our Exemption
Insurance marketing organizations want the Department of Labor fiduciary rule delayed. In particular, so the department can fix an exemption that will allow marketing organizations to sell certain annuities.
DOL Fiduciary Rule Delay Sent to OMB
The Department of Labor sent its rule Tuesday mandating a 60-day delay of its controversial fiduciary rule to the Office of Management and Budget. The delay is expected to become official soon.
DOL Rule Generates Flood of Comments, Petitions
The Department of Labor received 1,001 individual comments and 20 petitions on a tentative 60-day delay of its controversial fiduciary rule. How will the comments influence the DOL approach?
Survey Says: 79% of Americans Shun Advisors
Seventy-nine percent of Americans have never hired an advisor, according to a new study commissioned by the Million Dollar Round Table. Survey shows Americans who have used an advisor are much better prepared to invest for retirement.
DOL Nominee Stands Up to Sen. Warren on Fiduciary Rule
Alexander Acosta, Labor secretary nominee, deflected a grilling today from Sen. Elizabeth Warren on the department’s controversial fiduciary rule. Acosta said he will follow the president’s directive on the rule.
Texas Judge Shoots Down DOL Rule Injunction Request
Judge Barbara M.G. Lynn cites a string of court losses in refusing to grant an injunction halting the Department of Labor fiduciary rule. Three courts have ruled against plaintiffs so far.
Plaintiffs: Only an Injunction Removes DOL Rule Threat
Not enforcing the Department of Labor fiduciary rule in the short term does not remove the threat to the financial services industry, a court brief argues. Only a preliminary injunction will do that, plaintiffs say.
Judge: Explain Need for DOL Rule Injunction
Plaintiffs ask a Texas judge for an emergency injunction halting the Department of Labor fiduciary rule from taking effect April 20. Judge questions whether that is even necessary given a new DOL bulletin.
DOL: We Won’t Enforce Fiduciary Rule While Delay is Undecided
The Department of Labor says it will not enforce its controversial fiduciary rule until a measure to delay the rule is resolved. The DOL published a bulletin Friday in response to questions from financial services professionals.
Comments Flood DOL on Fiduciary Rule Delay
The Department of Labor is accepting comments through March 17 on a measure that would delay the department’s controversial fiduciary rule. Nearly 300 comments have been received so far.
DOL To Delay Fiduciary Rule 60 Days
The Department of Labor will publish a 60-day delay of its fiduciary rule tomorrow.
OMB Pushback Endangers DOL Fiduciary Rule Delay
The Office of Management and Budget finds the fiduciary rule to be ‘economically significant,’ which means extra work for the Department of Labor to delay the controversial Obama regulation.
Plaintiffs Appeal Texas Decision on DOL Rule
Judge Barbara M.G. Lynn awarded a summary judgment to the DOL on Feb. 8, the third court to side to the government on the controversial rule. Plaintiffs say the fight continues.
OMB Ponders Legal Implications of DOL Rule Delay: Sources
Several sources said the Office of Management and Budget is concerned that pro-rule groups will sue if the DOL fiduciary rule delay is not done properly.
OMB Working to Finalize DOL Rule Delay
The Office of Management and Budget could publish an ‘interim final rule’ to delay the controversial fiduciary rule. This method would enable the agency to make the delay effective before taking public comment.
Judge Again Upholds DOL Fiduciary Rule
Kansas judge rules for the Department of Labor in an appeal of an earlier decision upholding the agency’s controversial fiduciary rule. DOL rule opponents have lost cases in three federal courts.
New Labor Secretary Nominee Brings Legal Mind to Fiduciary Debate
New labor secretary nominee Alexander Acosta has an impressive record of accomplishments in the legal field. Will it help or hurt opponents of the DOL fiduciary rule?
How can employers get more millennials interested in 401(k) plans? Our Brian O’Connell talked to several experts in the retirement plan industry for five tips.
Acosta Is the New Nominee To Head DOL
President Donald J. Trump nominates Alexander Acosta to lead the Department of Labor. Acosta, who has undergraduate and law degrees from Harvard University, becomes the first Hispanic in the cabinet.
Puzder Withdraws From Labor Secretary Consideration
Reports surfaced that GOP senators withdrew support for the nomination of Andrew Puzder as secretary of the Department of Labor. His Senate hearing was set for Thursday morning.
DOL Secretary Nominee On The Grill Thursday
Andrew Puzder, President Trump’s nominee to run the Department of Labor, finally gets his Senate confirmation hearing Thursday morning. The hearing, which has been delayed three times, is sure to feature questions on the DOL fiduciary rule.
DOL Rule Delay Sent to OMB
If successful, a delay would push back the April 10 applicability date for the Department of Labor fiduciary rule mandates. The Trump administration will have to work fast to get the delay on the books, one expert says.
DOL Court Win on Fiduciary ‘Troublesome’ For Trump: Lawyer
DOL fiduciary rule opponents lost a third case Wednesday when Dallas Judge Barbara M.G. Lynn upheld the rule in a much-anticipated decision. Delay hopes now likely rest with Trump administration.
DOL Requests Stay in Fiduciary Rule Lawsuit
The Department of Labor has asked federal Judge Barbara M.G. Lynn for a one-month stay in the U.S. Chamber of Commerce lawsuit to reverse the fiduciary rule.
DOL Rule Delay Could Come Tuesday
The Trump administration ran into legal hurdles in trying to order a delay of the Department of Labor fiduciary rule. A new tactic should result in a delay being announced this week, a prominent lawyer says.
Fiduciary Rule Still On; Trump Fails to Order Delay
Trump memo fails to order specific delay the Department of Labor fiduciary rule. Language ordering a six-month delay removed from final version of memo signed Friday.
UPDATE: President Trump fails to order delay at the last minute The executive order signed by President Donald J. Trump…
Trump Signs Order Pausing DOL Rule; Reaction Swift
President Donald J. Trump has signed an executive order delaying the Department of Labor fiduciary rule. We have collected a few reactions from some key players in this nearly two-year fight.
Trump to Delay DOL Fiduciary Rule Today
President Donald J. Trump is expected to sign orders today to delay the controversial Department of Labor fiduciary rule and review the 2010 Dodd-Frank legislation. Will Republicans be able to overhaul regulation of financial services?
Rep. Pete Sessions, R-Texas, sends a letter to President Donald J. Trump asking for an immediate delay in the Department of Labor fiduciary rule. The rule is slated to take effect April 10.
