Census Bureau Starts Annuity Stream By Allison Bell – ThinkAdvisor – June 2, 2017 Only 4.6% of U.S. households have annuities or trusts, but they had an average of $180,271 in annuity and trust assets each, and the median value of trust and annuity assets was $60,000 nationwide. The Census Bureau published those figures Thursday in the first […]
Acosta Declines to Extend Delay of DOL Fiduciary Rule Labor Secretary finds no legal basis to delay implementation; rule to become applicable June 9 By Mark Schoeff – InvestmentNews – May 23, 2017 Labor Secretary Alexander Acosta confirmed Monday night that the agency’s fiduciary rule will become applicable on June 9. “We have carefully considered […]
The Financial CHOICE Act also makes substantial changes affecting many regulators, including the Securities and Exchange Commission By Hazel Bradford – InvestmentNews – May 5, 2017 A replacement for much of the Dodd-Frank Wall Street Reform and Consumer Protection Act was passed by the House Financial Services Committee on Thursday. The vote was 34-26 along party […]
Senate approves Trump’s nominee as DOL secretary, 60-38 By Mark Schoeff – InvestmentNews – Paril28, 2017 Financial industry groups wasted no time telling Alexander Acosta what his first priority should be upon winning confirmation from the Senate as secretary of Labor Thursday night: Extend the delay of the DOL fiduciary rule. Mr. Acosta takes the […]
Fiduciary rule delayed by 60 days Fiduciary rule delayed by 60 days By Andrew Welsch – FinancialPlanning – April 5, 2016 The Department of Labor has delayed the implementation of the fiduciary rule by 60 days, according to filing in the Federal Register. The move comes after Labor Department in February proposed a delay after President […]
DOL fiduciary delay final rule expected to be released Wednesday Agency pushes back implementation date just before April 10 deadline By Mark Schoeff – InvestmentNews – April 4, 2017 It looks as if the implementation delay for the Department of Labor’s fiduciary rule will be approved just under the wire. In a letter filed with […]
DOL: We Won’t Enforce Fiduciary Rule While Delay is Undecided By John Hilton – InsuranceNewsNet – March 13, 2017 The Department of Labor issued a bulletin Friday alerting the financial services industry that it will not pursue strong enforcement of its fiduciary rule in the short term. The bulletin was issued to clear up confusing over […]
SEC Chief Rips Into DOL Fiduciary Rule By Kenneth Corbin – OnWallStreet – March 3, 2017 ASHINGTON ― The acting SEC chair isn’t mincing words on the Department of Labor’s fiduciary rule. “I have a very nuanced view of the DoL fiduciary duty rule: I think it is a terrible, horrible, no-good, very bad […]
By MARIANNE LEVINE and PATRICK TEMPLE-WEST http://www.politico.com 03/01/17 02:18 PM EST Labor Department proposes to halt fiduciary rule, in win for brokers The Labor Department on Wednesday took the first step toward handing financial companies a victory in their effort to eliminate a controversial conflict-of-interest rule for brokers who offer retirement investing advice to customers. The department proposed to delay […]
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