Dodd and Frank on Dodd-Frank
“We did very difficult, politically hard things” in the Dodd-Frank Act, former Massachusetts congressman Barney Frank said. “My head hurt.”
FSI Tells Lawmakers Why DOL Fiduciary Plan Is U.N.W.O.R.K.A.B.L.E.
FSI "fact sheet" uses each letter in the word "unworkable" to explain the current DOL redraft’s faults.
Defining ‘Best Interest’ Standard in Fiduciary Debate a Head Scratcher
Two industry trade groups and the Financial Industry Regulatory Authority came out recently with uniform best interest standards in an attempt to squelch what they say will be competing fiduciary plans to be issued by the Department of Labor and the Securities and Exchange Commission.
Familiar Face Returns to SEC as Two Commissioners Plan Exit
A familiar face with deep roots on Wall Street has returned to the Securities and Exchange Commission to help the agency draft its fiduciary rulemaking just as two agency commissioners are planning to exit.
SEC’s Former IM Director Returns to Help Craft Fiduciary Rule
Andrew "Buddy" Donohue's "deep knowledge of asset management will be especially useful" as the SEC considers a uniform fiduciary standard, said Chairwoman Mary Jo White.
Former Senator Calls on Congress to Investigate ‘Flash Crash’
Former Sen. Ted Kaufman, D-Del., and Dennis Kelleher, CEO of Better Markets, are urging Congress to create an independent commission to investigate the 2010 crash.
DOL Releases Fiduciary Plan
The DOL's long-anticipated, controversial redraft of its rule to redefine fiduciary for retirement plans is now out for public comment.
SEC's White Supports Fiduciary Rule for Brokers, Third-Party Audits
While many in the industry are applauding SEC Chairwoman Mary Jo White's declaration that she will push to ensure the agency extends a fiduciary rule for brokers, concerns remain that such a rule will be a long time in the making.
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.
Bill to Delay DOL Fiduciary Rulemaking Is Revived
Rep. Ann Wagner, R-Mo., has reintroduced a bill to force the DOL to wait until the SEC makes its own fiduciary rule.