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.
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.
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.
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 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 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.
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.
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.
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.
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.
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.
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.
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.
Republican-led House is eager to pass legislation gutting Dodd-Frank and blocking the Department of Labor fiduciary rule; Will the Senate go along?
More than 100 Republican lawmakers sign a letter asking Department of Labor Secretary Alexander Acosta to eliminate the fiduciary rule.
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.
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.
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.
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.
The Department of Labor could use the 60-day delay to rework the more controversial aspects of the Obama-authored fiduciary rule, analysts say.
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.
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.
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?
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.
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.
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.
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.
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.
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.
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.
The Department of Labor will publish a 60-day delay of its fiduciary rule tomorrow.
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.
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.
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.
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.
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 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.
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.
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.
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.
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 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.
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.
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.
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…
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.
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.
Judge Barbara M.G. Lynn will rule by the end of next week on the controversial Department of Labor fiduciary rule. Opponents are optimistic for a ruling that kills the rule, which is slated to begin taking effect April 10.
Legislator says too many people are shielding assets from Medicaid examiners by purchasing annuities. Bill would tighten the annuity exclusions.
While the Department of Labor fiduciary rule may be delayed, the risk of failure to comply are too great for firms to ignore the rule, two analysts say. At any rate, a future fiduciary standard is likely in some form.
In a new court filing, plaintiffs argue that the Department of Labor exemption to allow IMOs to participate in selling FIAs under the fiduciary rule is flawed. The exemption proves the worst predictions on the rule impact are coming true, attorneys claim.
Trump orders delay on Obama regulations yet to take effect, but moratorium won’t apply to Department of Labor fiduciary rule. Still, opponents have plenty of firepower at hand to kill rule.
Donald J. Trump was sworn in as the 45th President of the United States today. What will it mean for financial services and nettlesome regulations? Some industry observers react via Twitter.
On the eve of his inauguration, what will President-elect Donald J. Trump mean for financial services? Is it presumptuous to expect burdensome regulations to be wiped off the books?
Nominee for secretary of health and human services, Rep. Tom Price, R-Ga., faced off against senators for the first time Wednesday. The hearing included some testy exchanges with Democrats on the panel.
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