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Second public comment period on DOL’s fiduciary rule ends; some groups say more time is needed for review

Jessica Karmasek Apr. 18, 2017, 1:26pm

The U.S. Department of Labor’s controversial new 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.

DOL releases measure to officially delay April applicability date of its fiduciary rule

Jessica Karmasek Apr. 10, 2017, 10:24am

The applicability date of the rule and related exemptions will be extended from April 10 to June 9, the U.S. Department of Labor announced last week.

Trump order seeks review of DOL’s fiduciary rule

Jessica Karmasek Feb. 3, 2017, 3:41pm

The president’s order, signed Friday, instructs the U.S. Department of Labor to conduct a new study to determine whether the rule is likely to harm investors and the financial industry, and if it does, the rule can be rescinded or revised.

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.