Top News

DOL looks to delay fiduciary rule until 2019

Jessica Karmasek Aug. 14, 2017, 5:10pm

The U.S. Department of Labor and its new secretary, R. Alexander Acosta, last week notified a Minnesota federal court that it submitted to the Office of Management and Budget, or OMB, proposed amendments to three exemptions. The proposed amendments include an “extension of transition period and delay of applicability dates” from Jan. 1, 2018 to July 1, 2019.

House Democrats argue DOL’s proposed delay of fiduciary rule could hurt savers

Jessica Karmasek Mar. 20, 2017, 2:01pm

The U.S. Department of Labor said earlier this month it would move forward -- under the direction of President Donald Trump -- with its efforts to delay the April 10 applicability date of the new “conflicts of interest” rule. The department said under its proposal the applicability date of the rule and related exemptions would be extended to June 9.

CEI paper: Attorneys general abuse power with relationships with trial lawyers

David Hutton Feb. 23, 2017, 10:02am

WASHINGTON (Legal Newsline) – Dangling the prospect of taking on an unpopular industry, trial lawyers are getting state attorneys general to team up on cases.

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to determine whether the rule is likely to harm investors and the financial industry, and if it does, the rule can be rescinded or revised.

CEI, in agenda for new Congress, pushes lawmakers to rein in federal agencies

Jessica Karmasek Dec. 13, 2016, 1:19pm

The Competitive Enterprise Institute’s congressional agenda, which was released last week, focuses on eight policy areas, including regulatory reform and agency oversight, banking and finance, and labor and employment, among other topics.

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.

Fight over airline e-cigarette ban focuses on 'agency overreach'

Carrie Salls Aug. 23, 2016, 10:42am

WASHINGTON (Legal Newsline) – Competitive Enterprise Institute (CEI) and the Consumer Advocates for Smoke-free Alternatives Association (CASAA) are continuing their fight against a final rule enacted by the U.S. Department of Transportation (DOT) that prohibits the use of electronic cigarettes on airplanes. The groups have filed an opening brief in response to a petition for review of the rule that was filed in April.

Calif. federal court rejects settlement in class action over company’s homeopathic products

Jessica Karmasek Aug. 11, 2016, 1:32pm

The rejected settlement purported to require Similasan to make label changes and maintain a website concerning homeopathic “dilution principles.” No unnamed class members would have received any compensation under the rejected agreement, and class attorneys would have been awarded more than $500,000.

Group uses anti-SLAPP motion to fight climate change inquiry

Kerrie Hatcher Jul. 12, 2016, 9:21am

WASHINGTON (Legal Newsline) - A District of Columbia-based organization recently filed an anti-SLAPP motion in D.C. Superior Court after objecting to a subpoena that originated in the United States Virgin Islands by its attorney general Claude E. Walker. 

U.S. House falls short of votes needed to override Obama’s veto of fiduciary rule resolution

Jessica Karmasek Jun. 23, 2016, 12:30pm

The vote was taken about 10:30 p.m. Wednesday, breaking up a sit-in protest by Democrats pushing for better gun-control measures.

U.S. Senate passes resolution to block DOL’s fiduciary rule

Jessica Karmasek May 25, 2016, 1:07pm

The rule, sometimes referred to as the conflicts of interest 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.

Fourth Circuit affirms settlement in class action against LexisNexis

Mark Iandolo Dec. 22, 2015, 8:44am

WASHINGTON (Legal Newsline) – The U.S. Court of Appeals for the Fourth Circuit recently upheld a lower court’s ruling that approved a settlement in a case against LexisNexis, which was accused of violating the Fair Credit Reporting Act.

Industry, consumer groups divided over CFPB’s planned proposal to prohibit arbitration

Jessica Karmasek Dec. 15, 2015, 8:47am

Groups representing businesses and financial industries contend a ban would make way for plaintiffs’ lawyers and hurt the economy. They want to see more research done before the Consumer Financial Protection Bureau starts the rulemaking process.