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.
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.