SEC’s Gallagher Doubts DOL’s Willingness to Listen
The proposed fiduciary rule is based on a "misguided notion" that fee-based compensation is always superior, the commissioner says.
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.
DOL Fiduciary Plan a ‘Big Government Scheme’: House Lawmaker
DOL’s latest fiduciary proposal "will lead to the same harmful consequences as the first and should suffer the same fate," says Rep. Phil Roe, R-Tenn.
House Bill Nixes DOL Fiduciary Rule’s Funding; Perez to Testify
A House Appropriations Committee bill released Tuesday prohibits any of DOL’s funds from being used to finalize, advance or enforce its fiduciary rulemaking.
GOP Lawmakers Demand More Info on DOL, SEC Fiduciary Collaboration (Again)
Two House Republicans say they haven't received "compelling information from DOL that meaningful coordination has taken place" between Labor and the SEC on fiduciary.
DOL’s Authority to Define Fiduciary Questioned
"Please explain to us how ERISA gives DOL jurisdiction over an individual’s relationship with a personal investment advisor,” said Rep. Hal Rogers, R-Ky.
DOL Has Worked ‘Very Closely’ With SEC on Fiduciary Plan: Perez
The Labor secretary told CNBC that DOL wants to create a "level playing field" for advisors that are already putting their clients' interests first.
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.
Key Congressional Committees Get New Leaders
The start of the new GOP-controlled Congress brings with it new faces to key congressional committees that hold sway over a variety of issues impacting advisors.
Gridlock Likely in New Congress as Fiduciary Regs Hang in Balance
The list of regulations and legislation that the advisory industry will be watching — and lobbying to influence — in the new year is long.