DOL
Get the latest news and insights on the Department of Labor's moves around the fiduciary rule, other financial regulations, enforcement actions and more.
DOL Safe Harbor Clarification for Lifetime Guarantees Sought by NAIC, Life Insurers
By Elizabeth D. FestaPrudential and other life insurers are joining the NAIC in requesting that annuity products, especially those that provide guaranteed lifetime income, are given safe harbor under ERISA's fiduciary rules.
July 24, 2012
Borzi on the Hot Seat, AgainPhyllis Borzi is once again feeling heatthis time from House Democratsover her insistence on including individual retirement accounts (IRAs) in the Department of Labors reproposed fiduciary rule.
July 10, 2012
FSI Fires Back on DOL's 'Disappointment' with Industry Data CollectionThe FSI's letter is a direct response to the June 20 letter from Phyllis Borzi to Congressmen, Education and Workforce Committee Chair John Kline, R-Minn., and Ranking Member George Miller, D-Calif.
June 26, 2012
Time’s Up on DOL’s 408(b)(2) DeadlineThe July 1 compliance date for the Department of Labors (DOL) final 408(b)(2) fee disclosure rule has finally arrived, and even though the final rule was a long time coming, covered service providers have been ramping up their compliance efforts for months.
June 26, 2012
Ex-EBSA Head Sees No Fiduciary Plan Before ElectionBrad Campbell, the former head of EBSA, predicted Tuesday that the DOL wont release its reproposed fiduciary rule until after the presidential election in November.
June 21, 2012
SEC, FINRA, DOL Enforcement Roundup: Investment Advice From the HeavensRecent enforcement actions included an astrology-based Ponzi scheme, along with fines for Morgan Keegan, Edward Jones and Janney Montgomery Scott.
June 19, 2012
DOL’s Borzi: Industry Backlash on Fee Rules Is UnfoundedPhyllis Borzi, Assistant Secretary of Labor at the EBSA, laid out on Monday EBSAs regulatory agenda for the rest of the year and clarified one area thats caused a backlash from retirement planning officials.
June 15, 2012
DOL Enforcement Roundup: Two Accused of Misusing Pension FundsThe director of an Illinois-based investment management firm was ordered to restore $1.2 million to four pension plan client accounts, while an advisor was accused of misusing $3.2 million in retirement plan funds.