A federal appeals court finally issues a final mandate officially killing the Department of Labor fiduciary rule after a long delay. The action leaves the SEC Regulation Best Interest as the main rule proposal to regulate financial advice.
Read moreThe Fifth Circuit Court of Appeals rejected a final appeal by a trio of states today, clearing the way for the Department of Labor fiduciary rule to be officially killed.
AARP is not giving up on its fight to restore the Department of Labor fiduciary rule. The lobbying group will file an appeal to keep the rule, which was tossed out by a New Orleans court last month.
The Massachusetts decision to charge Scottrade with Department of Labor fiduciary rule violations shows the lengthy reach of the DOL rule. Our Kim O’Brien explains the rule’s chilling potential.
A judge within the Fifth Circuit Court of Appeals is likely pushing for a full judicial review of the March 15 decision to toss the DOL fiduciary rule, one lawyer says. The court continues to delay issuing a final order that would officially kill the DOL rule.
The Securities and Exchange Commission’s Regulation Best Interest is drawing heated opposition from an interesting coalition of allies. But Chairman Jay Clayton insists that the agency will not be deterred in its rulemaking efforts.
The federal government will not appeal a court ruling tossing the Department of Labor fiduciary rule. The Trump administration had until the end of Wednesday to appeal the decision to the Supreme Court.
The Fifth Circuit Court of Appeals hasn’t yet issued a final mandate officially killing the Department of Labor fiduciary rule. The ACLI asked the court today to issue the mandate as soon as possible.
The National Association of Insurance Commissioners are meeting in Kansas City Thursday and Friday in the hopes of finalizing a best-interest model law. The group hopes to take a model law to the states for adoption.
The Fifth Circuit Court of Appeals rejected a final appeal by a trio of states today, clearing the way for the Department of Labor fiduciary rule to be officially killed.
In a last-minute appeal, California, New York and Oregon are asking the Fifth Circuit Court of Appeals to reconsider its request for a full review of its decision to toss out the Department of Labor fiduciary rule.
The SEC best-interest rule includes words and meaning that could conflict with the way state suitability standards are interpreted, said Iowa Insurance Commissioner Doug Ommen. The two groups plan to meet to iron out those differences.
The NAIC suitability standard has been a big success since it was adopted in 2010, two industry veterans argue. So why are state and federal regulators in a hurry to replace it with a best-interest standard that may or may not help consumers?
Leading insurance company execs are cautiously optimistic that the near death of the Department of Labor fiduciary rule will result in a much better rule from other regulators.
The Fifth Circuit Court of Appeals denied motions by AARP and three states today to intervene and argue in favor of saving the Department of Labor fiduciary rule. Chances of the rule’s revival are seen as remote.
The National Association of Insurance Commissioners’ second public comment period on its best-interest model law for annuity transactions yielded plenty of suggestions. Critics urged the NAIC to tread lightly and not rush the regulation.
The federal government decided against appealing the Fifth Circuit Court of Appeals decision tossing out the Department of Labor fiduciary rule. The Trump administration opposed the Obama-era rule from day one.
Wells Fargo is the target of a Department of Labor probe on whether the bank has been pushing its customers to take their money out of low-cost corporate 401(k) plans and roll their holdings into more expensive individual retirement accounts at the bank, The Wall Street Journal reported.
AARP is not giving up on its fight to restore the Department of Labor fiduciary rule. The lobbying group will file an appeal to keep the rule, which was tossed out by a New Orleans court last month.
A leading annuity expert lays out four reasons why annuity sales will be bouncing back in a big-time way in 2018 and ahead. Market conditions and reasonable regulation are the two main themes.
The SEC gave the public a first glance at its investment advice rules for brokers. The panel divided in its assessment, but voted 4-1 to tentatively adopt the rules.
The Securities and Exchange Commission will meet publicaly Wednesday afternoon for its first board discussions on an investment advice rule for brokers.
The SEC plans a public meeting Wednesday to discuss its progress to establish investment advice rules for brokers and advisors.
The 350 Independent Marketing Organizations serving independent agents could shrink by 30 to 50 percent due to pressing regulation on several fronts, experts say. Many IMOs will be looking to buy or sell for the foreseeable future.
