Top News

Missouri Congresswoman’s bill would kill DOL’s fiduciary rule, create best interest standard for broker-dealers

Jessica Karmasek Oct. 5, 2017, 7:30am

U.S. Rep. Ann Wagner, a Republican, introduced The Protecting Advice for Small Savers, or PASS, Act of 2017 last week.

DOL proposes 18-month delay of fiduciary rule’s full implementation

Jessica Karmasek Sep. 1, 2017, 1:59pm

In June, the U.S. Department of Labor published a Request for Information, or RFI, related to the rule and whether to delay its full implementation. The rule, released in April 2016, 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.

Survey: DOL’s fiduciary rule already hurting savers, financial professionals

Jessica Karmasek Aug. 18, 2017, 1:34pm

The Financial Services Roundtable, an advocacy organization for the nation’s financial services industry, polled 600 financial advisers from July 7-12.

CHOICE Act aims to end taxpayer-funded bailouts; opponents argue it guts Dodd-Frank protections

Jessica Karmasek May 17, 2017, 5:11pm

U.S. Rep. Jeb Hensarling, R-Texas, introduced the Financial CHOICE Act, or H.R. 10, in late April. The bill was advanced by the U.S. House Financial Services Committee, which Hensarling chairs, earlier this month.

Despite delay, fiduciary rule 'already causing great harm'

Jessica Karmasek May 12, 2017, 9:18am

Last month, the U.S. Department of Labor released a measure officially delaying the implementation of the rule and its related exemptions by 60 days. The applicability date is now June 9. Some argue a longer delay is necessary, while others contend the U.S. Securities and Exchange Commission should step in and craft a better rule.

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.

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.

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.