Legislation
Breaking news and analysis on the latest legislation and activities affecting financial services from Capitol Hill.
House Panel Passes Bills on Family Offices, Payment for Order Flow
By Melanie WaddellOrder Flow Improvement Act directs the SEC to study and consider banning or limiting the payment for order flow in the form of exchange rebates or payments from market centers to broker-dealers.
July 28, 2021
'Mega-IRAs' Long Overdue for a Crackdown: Senate Finance ChairNew government data show a threefold increase in aggregate IRA account balances of $5 million of more, Sen. Ron Wyden and Rep. Richard Neal said.
July 28, 2021
New Bill Qualifies Accredited Investors by SEC ExamThe bill would allow more people with the expertise, but not the required income or wealth, to invest in private companies.
July 27, 2021
Independent Contractor Status a 'Heavy Focus' for FSI Advocacy"There's still an awful lot of work to do on this [independent contractor] issue," FSI general counsel David Bellaire said.
July 26, 2021
Financial Services Groups Still Fear Labor BillOne section could turn agents and advisors who are now independent contractors into employees.
July 22, 2021
Sen. Murray Revives Women's Retirement Protection Act"Even before this pandemic, women in America typically had less money saved for retirement," Sen. Patty Murray said.
July 22, 2021
New Bill Reshapes Retirement Saver's Credit Into 401(k), IRA Matching ContributionThe legislation also includes a bonus credit of up to $5,000 for money saved over the next five years.
July 20, 2021
New Senate Bill Would Overhaul Pass-Through Tax DeductionThe Small Business Tax Fairness Act, introduced by Sen. Ron Wyden, would phase out the deduction for high earners and expand eligibility.