DOL Seen as First Mover on Fiduciary
The SEC will let the DOL move first in releasing its fiduciary redraft, which the DOL said won’t come until August, two industry officials predicted.
Regulators Approve Volcker Rule, the Core of Dodd-Frank
The Fed and FDIC unanimously vote to adopt the rule, which adds tough new restrictions on banks.
DOL to Be First Mover on Fiduciary, Industry Watchers Say
DOL’s rule will be a “stronger rule,” and it will “bolster” the SEC’s rule, an AARP lobbyist told ThinkAdvisor.
House Passes Bill to Exempt Private Equity Fund Advisors From Registration
President Obama has threatened to veto it, and there is no companion bill in the Senate.
Yellen: QE Will Continue, but Not ‘Forever’
At her confirmation hearing, Janet Yellen said there were “dangers” in ending quantitative easing too early as well as in “continuing it too long.”
SIFMA Launches Investor First Initiative; CEO Gregg Says SEC Should Go First on Fiduciary
The “Our Partnership with You” initiative is designed to help investors “get the most” out of their relationship with their advisor.
Senate Banking Aide: Committee Has ‘No Interest’ in Bill to Block Fiduciary Rules
Wagner bill passes House, but Senate Banking's Johnson says he won't focus on any bill "the president clearly has no interest in signing."
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.