Senate Panel Advances Labor’s EBSA Chief Nomination
Senate HELP Committee voted Wednesday to advance Rutledge, who will help steer fiduciary rule changes, as well as O’Scannlain as solicitor.
‘Phase 2’ of DOL Rule Is Dead: Brian Hamburger
At the MarketCounsel Summit, Hamburger also said the Protocol for Broker Recruiting was "unraveling."
Risks Lurk in DOL Rule Exemption for ‘Clean Shares’
Problems lie ahead if Labor issues "too broad" or "too narrow" a definition of clean mutual fund shares, says Aron Szapiro of Morningstar.
NAFA Fiduciary Case Postponed Till 5th Circuit Ruling
Postponing oral arguments provides ‘some much-needed breathing room,’ says NAFA’s Anderson.
DOL Ready to Enforce Fiduciary Rule: Acosta
If firms are willfully violating the best-interest standard, which took effect June 9, Labor will use its enforcement authority, Acosta told lawmakers.
DOL Rule Delay Will Likely Be Final in 3 Weeks: Acosta
Meanwhile, NAFA asks for a delay of oral arguments, while Thrivent wins some relief from anti-arbitration rules under BICE.
DOL Files Official Delay of Fiduciary Rule
The delay should be approved by OMB in a week or two, lawyer Reish says. Barbara Roper doubts the complete rule will ever take effect.
Treasury Backs DOL Fiduciary Rule Delay
A just-released Treasury report also calls for more annuity access in 401(k) plans and a "plain vanilla" ETF rule from the SEC.
Watchdog Group Sues DOL Over Fiduciary Rule Documents
The group, American Oversight, is suing Labor for not responding to its FOIA request to release “relevant documents” about its fiduciary rule.
Thrivent, DOL Anti-Arb Fiduciary Tussle Continues
Labor argues that there's no need for relief from the anti-arbitration provision because the rule will likely be delayed anyway.