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GOP lawmaker introduces federal legislation aimed at delaying DOL’s fiduciary rule

Jessica Karmasek Jan. 9, 2017, 11:33am

The legislation, introduced by U.S. Rep. Joe Wilson of South Carolina Friday, would provide for a two-year delay of the U.S. Department of Labor’s fiduciary rule’s effective date. The rule mandates financial professionals who service individual retirement accounts, including IRAs and 401(k) plans, to serve the “best interest” of the savers and disclose conflicts of interest.

Non-profit group pushes Congress to stop new labor rules, including DOL’s potentially costly fiduciary rule

Jessica Karmasek Nov. 14, 2016, 8:36am

Those within the financial services community seem hopeful, with Donald Trump’s presidential win Tuesday, that the U.S. Department of Labor’s conflicts of interest rule is in play.

U.S. DOL argues new fiduciary rule will have ‘enormous’ benefits for investors

Jessica Karmasek Aug. 26, 2016, 2:53pm

The Department of Labor, in a lawsuit brought by a group of trade associations in June, contends its conflicts of interest rule, despite the cost, better serves investors and aligns with other federal retirement laws. The department is asking a Texas federal court to rule in its favor.