5 New Compliance Headaches for Advisors, BDs
As Labor Day approaches, here are five big compliance developments advisors may have missed in recent months.
House Panels to Hold Hearing on DOL Fiduciary Rule
The hearing could lead to the markup of a bill that would stop the DOL rule until the SEC comes out with its own.
DOL Set to Issue Final Fiduciary Rule
Even before the mid-August hearings at DOL headquarters, Labor Secretary Tom Perez confirmed: A final rule will be issued once the comment period expires.
DOL Fiduciary Plan Needs Rollover Exemption: Retirement Experts
Lawmakers and ARA say a new exemption is needed so plan advisors won’t be prohibited from helping participants with rollovers.
Lawmakers Ask DOL to Start Over on Fiduciary Rule
“We feel it is in the interest of our constituents that the DOL repropose this fiduciary regulation,” lawmakers tell Labor’s Thomas Perez.
DOL Fiduciary Foes Said to Be Writing Best-Interest Standard Bill
The Department of Labor’s plan to revamp the definition of fiduciary under ERISA is likely to face yet another legislative hurdle.
Talk of FINRA as Advisor SRO Rears Its Head Again
A Republican on the House Financial Services Committee said at FINRA's annual conference that he would "explore" legislation to give FINRA advisor exam authority.
SEC Chief White: Fiduciary Rulemaking Just Getting Started
Any such rule is “still a 'whether' question," SEC chairwoman says, pointing out she is only "one of five votes" on the commission.
GOP Reps Demand Proof DOL Didn’t Go It Alone on Fiduciary
Lawmakers tell Secretary Perez to hand over SEC correspondence, but advocates say Congress’ efforts to stall the fiduciary redraft are futile.
GOP Lawmakers: DOL Should Wait Its Turn on Fiduciary
SEC, not DOL, is the agency responsible for writing fiduciary rules for broker-dealers, the Senate and House appropriations chairmen tell the White House.