PIMCO’s Gross: Will Yellen ‘Shape History?’
The bond king sums her up on Twitter: "More dovish than Bernanke but runnin’ outta ammo."
GOP to Offer Temporary Debt Ceiling Plan
The plan would also permanently bar Treasury from using extraordinary measures to avoid default.
Obama Refuses to Negotiate ‘Under the Threat of Economic Catastrophe’
Some independent analysts say that the real debt limit deadline is Nov. 1, when the Treasury is scheduled to make nearly $60 billion in payments.
The Women Leading the Fiduciary Charge
Phyllis Borzi and Mary Jo White are two tough ladies with two tough jobs.
DOL Pressing Forward on Fiduciary
According to the Semiannual Regulatory Agenda for the Department of Labor’s Employee Benefits Security Administration, a reproposal to amend the definition of fiduciary under the Employee Retirement Income Security Act (ERISA) will come in October.
DOL, SEC Fiduciary Rules May Clash, Senators Tell OMB
Ten Democratic senators urged the OMB to carefully review DOL’s fiduciary reproposal to ensure that it doesn’t “directly conflict” with the SEC’s fiduciary rule.
SEC’s White Pushing to Finish Fiduciary Proposal ‘Quickly’
SEC Chairwoman Mary Jo White told lawmakers Tuesday that the agency is “focused” on completing rules covering fiduciary duty.
Fiduciary Stumbling Blocks Surface
Several potential stumbling blocks have surfaced in the past couple of months that could stymie—or outright derail—release of fiduciary rules by the SEC and DOL.
SEC Fiduciary Rule Unlikely in Dodd-Frank’s Third Year of Life
Advisors, including Harold Evensky, and industry officials are increasingly pessimistic that the year will bring a uniform fiduciary rule. However, the first designation of an asset management firm as systemically important could be coming soon.
SEC Nominees Vote Tabled Due to Lack of Quorum
Meanwhile, the Senate confirmed Richard Cordray as CFPB director.