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.
Fiduciary Rule Proposal Prompts Senator to Call Meeting With DOL
A day after lawmakers told the EBSA to repropose its controversial rule amending the definition of fiduciary under the Employee Retirement Income Security Act (ERISA), Sen. Kay Hagan, D-N.C., said Wednesday that her office plans to meet with both Borzi and Secretary of Labor Hilda Solis to discuss the fiduciary...
FSI’s Brown Slams DOL Fiduciary Proposal
On the same day Phyllis Borzi, DOL Assistant Secretary for EBSA, testified before Congress, Dale Brown, president and CEO of FSI, released a blunt statement on Tuesday on the fiduciary rule, calling it “troubling that we have reached this point in the process, and yet there appear to be no...
Congress to DOL's Borzi: Repropose Fiduciary Rule, Too Broad
Lawmakers told EBSA head Borzi on Tuesday to repropose EBSA’s controversial regulation amending the definition of fiduciary because it's too broad and because the agency failed to examine the full cost of expanding the definition.