SEC’s Gallagher: Fiduciary Rule Likely Not Coming
Phyllis Borzi calls DOL's fiduciary redraft "No. 1 priority"; SEC Commissioner Daniel Gallagher adamant that the commission lacks the votes to make a rule.
Advisor Groups ‘Working Hard’ to Get Senate User Fees Bill
Advisor groups lobby for bipartisan Senate bill as House bill languishes and FINRA “remains committed” to gaining oversight of advisors.
House Passes Bill to Rein In CFPB
The bill replaces the director with a bipartisan board and cuts bureau workers’ pay; Senate support for the measure is unclear.
Yellen: Fed May Pause Tapering if Weakness Persists; Can’t Regulate Bitcoin
Yellen told Congress that the Fed would assess whether the “unseasonably” cold weather has caused the recent uptick in “soft data.”
Changes Afoot in Washington Well Ahead of Midterm Elections
"It’s virtually certain that Republicans will retain control of the House — and now are within striking distance of taking the Senate,” says strategist Valliere.
Yellen: Steady Fed Policy Could Shift With ‘Notable’ Economic Change
Fed Chief Janet Yellen said that while she expects continuity in Fed policy, pausing or increasing bond purchases was not out of the question.
Yellen, Not Debt Ceiling Debate, to Spark Washington Fireworks
While Yellen will face tough critics Tuesday, analysts are optimistic that a debt limit bill will pass prior to the Feb. 27 deadline.
Lawmakers: SEC Failed to Analyze Volcker Rule, Broke Federal Law
A congressional hearing on Wednesday focused on the unintended consequences of the Volcker Rule.
House Committee Promises ‘Vigorous’ Oversight of Yellen’s Fed
The House Financial Services Committee plans to hold a series of "aggressive" hearings this year on how to reform the central bank.
New Hire Roundup: American Century Names New Co-CIOs
Meanwhile, Nicholas Lance joined OneAmerica, and Sebastian Gomez Abero was tapped to lead the SEC Office of Small Business Policy.