11 Key Congressional Committees for Advisors to Worry About
As the election approaches, not just the White House and Congress are in play, but also control of congressional committees important to advisors and others in the financial services sector.
Potential Pension Income Abuse Targeted by Sen. Harkin
Lump sum or annuity? It’s a question that dogs lottery winners and parties to structured settlements, and it might now involve your client's retirement plan.
Lawmakers Push Financial Transaction Tax as Deficit Deadline Nears
With only two weeks left to reach a deal, lawmakers supporting the bill that would levy a tax on financial transactions urged the Joint Select Committee on Deficit Reduction in a Nov. 8 letter to adopt their proposal.
Rep. DeFazio Aims to Tax Trading
Rep. Peter DeFazio, D-Ore., is doing it again—partnering with Sen. Tom Harkin, D-Iowa, to present a bill to tax trades of stocks, bonds and derivatives. The two previously tried in 2009 to propose such a measure, but it failed.
SEC Funding in the Budget Fight Crosshairs
At press time, the Senate was preparing to vote on competing Democratic and GOP bills to fund the government for the rest of the year.
As State Securities Regulators Worry About SEC Funding, Government Shutdown Looms
As state securities regulators gathered at their annual public policy conference in Washington on Monday, the threat of a government shutdown looked imminent.
Sen. Harkin Says Govt. Shutdown Possible; Calls for Year-Long CR
Harkin, Chairman of the Senate HELP Committee, also wants a universal retirement system; Treasury official calls for automatic IRA.
Sen. Harkin to DOL: Hold Retirement Plan Advisors to Strict Fiduciary Rules
Sen.Tom Harkin, D-Iowa, chairman of the Committee on Health, Education, Labor and Pensions, is urging the DOL to hold retirement plan advisors to the highest fiduciary standards.
Senate Mulls Stronger Oversight of Pension Benefit Guaranty Corp.
Sen. Harkin: A recent IG report "raised serious concerns about whether PBGC would be able to cope with a sudden influx of pensions brought on by a new economic crisis."
House, Senate Agree to Retain State Oversight of EIAs
House conferees agreed Thursday, June 24, with the Senate in passing the amendment offered by Senator Tom Harkin's (D-Iowa) which retained state regulation of equity-indexed annuities (EIAs).