Compliance | September 12th, 2024 SEC Advisory Committee Hearing on Best Interest Advice Set The group will discuss financial professionals’ obligations to clients in light of the court stays on the DOL’s retirement security...
Compliance | August 28th, 2024 GAO Finds Conflicts of Interest in Sale of Certain Retirement Investments The interests of financial professionals and firms ‘often conflict with the interests of retirement investors,’ according to the watchdog’s report.
Compliance | July 26th, 2024 DOL’s Retirement Security Rule Stayed Ahead of Effective Date A Texas federal court judge sides with insurers, issues a preliminary injunction of the fiduciary rule.
Compliance | March 11th, 2024 DOL Sends Final Fiduciary Rule to OIRA For Review The final draft has been written and now will undergo a review expected to take about 60 days.
Compliance | February 15th, 2024 Congressional Hearing Highlights Arguments for, Against Retirement Security Proposal The House of Representatives hosted a second hearing on the retirement security proposal, during which witnesses disagreed on the adequacy...
Compliance | January 19th, 2024 Fiduciary Proposal May Be Extremely Expensive to Implement, Oxford Survey Finds The biggest costs would come from disclosure requirements related to rollover decisions, according to a survey commissioned by a financial...
Compliance | January 12th, 2024 American Securities Association Wants DOL Employees Recused From Work on Fiduciary Proposal The ASA requested that Congress identify and consider removing from the project certain DOL staff involved with the proposal.
Compliance | January 10th, 2024 House Committee Hears Expert Testimony on Fiduciary Proposal Members of Congress and their invited experts discussed the pros and cons of the Department of Labor’s retirement security proposal.
Compliance | January 8th, 2024 House Members Join Calls to Withdraw DOL Fiduciary Proposal A letter, signed by representatives from both sides of the political aisle, argues the proposed DOL rule changes are unnecessary...
Compliance | January 3rd, 2024 Fiduciary Proposal Comment Period Closes, Receives Both Praise and Criticism Morningstar argued that the DOL proposal would lower fees for smaller plans, while ACLI argued it would reduce access to...
Compliance | December 29th, 2023 ASA Calls Fiduciary Proposal Unlawful, Anticipates Litigation Group questions authority of Acting Labor Secretary Julie Su to approve any final rulemaking.
Compliance | December 12th, 2023 DOL’s Proposed Fiduciary Rule Changes See Mixed Response The start of 2 days of testimony airs opinion from industry groups, advisers and consumer advocates in live webinars.
Compliance | November 16th, 2023 Continuing Resolution Passes, Congress Continues Budget Debate The resolution would give Congress an additional two months to finalize a budget.
Compliance | November 15th, 2023 No Additional Time for Fiduciary Proposal Comment, EBSA Confirms An EBSA letter to SIFMA confirmed the 60-day comment period will proceed as originally planned.
Compliance | November 14th, 2023 Republican Budget Proposal Would Cut EBSA Budget, Roll Back ESG Rule The budget, which President Joe Biden has pledged to veto, would also prevent the DOL from implementing the fiduciary adviser...
Compliance | October 31st, 2023 DOL Would Oversee Annuity Sales, Rollovers Under New Proposal The rule is open for public comment, with legal challenges expected almost immediately.
Administration | October 31st, 2023 ‘Important Step’ or ‘Out of Touch’? Reactions to DOL Proposal Run the Gamut Financial sector responds to proposed amendments to advice regarding retirement plan rollovers and annuity sales.
Compliance | October 31st, 2023 Rollovers, Investment Menu, Annuity Advice Standards to Be Overhauled in DOL Proposal The DOL proposal would, under ERISA, assert jurisdiction over annuity sales and IRA rollovers.
Compliance | October 20th, 2023 Retirement Fiduciary Proposal Coming Very Soon Industry experts now expect the proposal on 3(21) fiduciaries to come by month’s end.
Compliance | October 17th, 2023 Acting Secretary of Labor Su Clarifies Aim of New Fiduciary Proposal The proposal seeks to broaden the definition of fiduciary adviser under ERISA, though the precise wording is not yet available.