Fiduciary Rules and Practices
Andrew Puzder, President Trump’s nominee for Secretary of Labor, on Feb. 15 withdrew his name from consideration. His action comes one day before his rescheduled confirmation hearing was set to take place before the Senate Health, Education, Labor and Pensions (HELP) Committee. Puzder posted this...
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President Trump’s nominee for Secretary of Labor is slated for a Senate hearing Feb. 16 — and if the list of questions from Sen. Elizabeth Warren (D-Mass.) is a harbinger, it’s going to be a contentious one. Ahead of that Feb. 16 hearing before the U.S. Senate Committee on Health, Education, Labor...
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The Trump administration’s rapid-fire executive orders and regulatory announcements and reviews could delay, gut or even kill the fiduciary rule. But a recent analysis suggests the genie may be out of the bottle. In MarketBeat, John Iekel discusses a recent analysis that suggests changes in the...
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The Trump administration’s dramatic series of rapid-fire executive orders and regulatory announcements and reviews purport to delay, perhaps gut or even ultimately kill the Department of Labor’s fiduciary rule. But a recent analysis suggests that the genie may be out of the bottle regardless.In a...
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It was widely anticipated that the Department of Labor’s fiduciary rule would be among the fledgling Trump administration’s early action items. And it did not disappoint — or did it?In “DoL Fiduciary NOT Yet Delayed By President Trump After All…,” a recent “Nerd’s Eye View” blog post, Michael...
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It looks like that much-anticipated delay in the applicability date of the Department of Labor’s (DOL) fiduciary regulation might be a reality, or at least on its way to becoming one. Late Thursday evening, Feb. 9, Reuters reported that the DOL’s Employee Benefit Security Administration (EBSA) had...
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The Labor Department is now 3-0 in defending the fiduciary regulation in court. If there had been a sense that the U.S. District Court for the Northern District of Texas would prove to be a more plaintiff-friendly venue, Judge Barbara M.G. Lynn turned out to be no more sympathetic to the plaintiffs...
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Two weeks ago, Sen. Elizabeth Warren (D-Mass.) wrote to a number of financial services firms asking where they stood on the fiduciary regulation. She’s now shared their responses with the Acting Secretary of Labor.Late last month Warren wrote to nearly three dozen financial services firms asking if...
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The Department of Labor’s (DOL) fiduciary rule has its detractors, and none other than President Trump has instructed the DOL to review it for a variety of reasons — raising questions regarding whether, or how long, it may come into force. But despite the chorus of opposition, the rule does have...
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On Feb. 3, 2017, President Trump issued an executive memorandum on the Department of Labor’s fiduciary rule. In fact, it issued a draft and a final version that differed from the earlier iteration. In MarketBeat, Nevin Adams discusses the memoranda and what they mean for the rule and those affected...
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On Feb. 3, 2017, President Trump issued an executive memorandum on the Department of Labor’s fiduciary rule. In fact, it issued a draft and a final version that differed from the earlier iteration. In MarketBeat, Nevin Adams discusses the memoranda and what they mean for the rule and those affected...
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If it’s possible, the final version of President Trump’s Executive Memorandum may have left us with more uncertainty than we had before.Last Friday morning, based on what we stipulated was a draft of the memorandum, we cautioned that the fiduciary rule “may significantly alter the manner in which...
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The Department of Labor’s (DOL) fiduciary rule, as well as other regulations and laws that affect and govern retirement plans, were part of the discussion at the U.S. Chamber of Commerce meeting on Feb. 3.“The Shifting Paradigm of Retirement,” a morning program in which speakers from the federal...
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We have just received the official White House release of the memorandum to the Secretary of Labor with regard to the fiduciary rule. The final memorandum, unlike the draft provided by White House Counsel to the press earlier today, omitted the specific directive to delay the applicability date by...
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UPDATED 11:15 A.M. FEB. 6 President Trump has tackled the Labor Department’s fiduciary rule, just weeks ahead of the April 10 implementation date. On Friday, Feb. 3, the President signed an administrative memorandum to the Secretary of Labor that directs the department to take necessary actions...
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Forget the rumors — the change in administrations in Washington apparently hasn’t stilled the Department of Labor’s (DOL) legal defense of the fiduciary rule. InvestmentNews reports that the DOL has responded to a brief from the plaintiffs in a case pending in the Northern District of Texas....
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The Department of Labor released a much-anticipated second set of fiduciary regulation FAQs on Friday the 13th. In MarketBeat, Nevin Adams writes that they focus particularly on investment advice concerning ERISA-covered plans, IRAs and other plans covered by Code Section 4975(e)(1).
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Sure, you’ve spent a year getting ready for the fiduciary rule — but are you ready for this?Tax reform is the topic du jour in the nation’s capital. The headlines have been filled with promises from both President Trump and nearly every one of his cabinet appointees to do something about tax reform...
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On Jan. 20, President Trump signed a regulatory freeze pending review — but did that affect the timing of the fiduciary rule?In a memo to federal departments and agencies, White House Chief of Staff Reince Priebus said the freeze was designed to ensure President Donald Trump’s appointees or...
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The Department of Labor (DOL) released a much-anticipated second set of fiduciary regulation FAQs on Friday the 13th.These frequently asked questions (FAQs) anticipated since last fall, focus particularly on specific technical questions raised by financial service providers. Okay, technically they...
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