Next Up for DOL Fiduciary Redraft: Hearings
Now that the comment period on the DOL's fiduciary redraft has ended, opponents and those in favor of the rulemaking will participate in hearings regarding the plan the week of Aug. 10.
Lawmakers Ask DOL to Start Over on Fiduciary Rule
“We feel it is in the interest of our constituents that the DOL repropose this fiduciary regulation,” lawmakers tell Labor’s Thomas Perez.
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.
House GOP Tells DOL to Scrap Fiduciary Plan
Lawmakers from the House committee with jurisdiction over DOL accused it of having an “insatiable desire to re-engineer the retirement services industry.”
DOL ‘Flexible’ on Fiduciary Rule, Perez Says
“We are very flexible in how to get this [fiduciary rulemaking] done,” Labor Secretary Perez told a Senate panel. “We haven’t made any decisions yet.”
FSI Pushes Investors to Weigh in on DOL Fiduciary With New Microsite
While FSI advisor members have been sending thousands of letters, the site will give retail investors "a voice in Washington," says FSI's Brown.
DOL Fiduciary Foes Said to Be Writing Best-Interest Standard Bill
The Department of Labor’s plan to revamp the definition of fiduciary under ERISA is likely to face yet another legislative hurdle.
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.
Fiduciary Rule Crucial for Protecting Middle Class: DOL Chief
Labor Secretary Perez says DOL is sharpening its thinking on the fiduciary rule thanks to comments; FPA plans to weigh in in "very comprehensive" fashion.
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.