Final Fiduciary Rule Goes to OIRA for Review
The controversial rule will likely be published later this spring, with changes anticipated.
Tag: DOL fiduciary rule
Smaller Accounts, Insurance Product Impact Debated at Hearing on Fiduciary Proposal
Witnesses called to testify at a House hearing disputed whether small balances would still be served under the retirement security...
Oxford Survey Finds DOL May Have Underestimated Compliance Cost of Fiduciary Proposal
New rollover disclosure needs would contribute to a majority of the cost, according to the survey commissioned by financial industry...
ASA Calls on Congress to Name DOL Employees Involved With Fiduciary Proposal
The American Securities Association asked Congress in a letter to identify DOL staff involved in the fiduciary proposal and to...
1st House Hearing on Fiduciary Proposal Falls Along Partisan Lines
Congress weighs in on the controversial proposal for the first time, with Republicans often against and many Democrats in support.
Older Workers Often Skeptical of Professional Retirement Advice, AARP Finds
Among those older than 50, 41% of people prefer to handle retirement planning in-house, and almost all agree advisers should...
Fiduciary Proposal Comment Period Ends With More Mixed Feedback
The IAA and Morningstar offered conditional support to the Department of Labor’s proposal and the ACLI called for a full...
American Securities Association Says DOL Acting Secretary Cannot Finalize Fiduciary Proposal
The trade organization challenged the DOL’s proposal on several grounds, including that an acting cabinet secretary cannot finalize a rule.
DOL’s Fiduciary Rule Faces Uncertain Future
Although regulators are motivated to finalize the rule, it will likely face litigation, according to Capital Group’s senior counsel.
Biden Expected to Sign Continuing Resolution
The resolution would prevent a government shutdown and keep the DOL funded through February 2.
Total Annuity Sales Jump 11%, Poised to Break Annual Record
Retail annuity sales hit $89.4 billion in Q3, while deferred income annuity sales reached $950 million, according to LIMRA.
DOL Fiduciary Proposal Expected by End of October
The proposal is expected to redefine fiduciary in the context of retirement investment advice.
DOL Sends New Adviser Fiduciary Rule to OMB for Review
The rule is expected to broaden when investment advice is considered fiduciary advice under ERISA.
ERISA Industry Committee Comments in Opposition to New DOL QPAM Rule
The DOL has proposed that QPAMs would be disqualified for 10 years for foreign convictions and for entering into non-prosecution...
Compliance News
Legislative and Judicial Actions
The DOL gives advisers a ‘grace month’ to comply with impartial conduct standards; the IRS ups the contribution limit by...
Compliance Consult
Caution Needed Regarding Rollovers
Many recommendations may now be investment advice.
ERISA vista
Rollovers and Fiduciaries
Recent DOL guidance expands the definition of fiduciary advice.
ERISA vista
The DOL’s Latest Proposed PTE
How advisers who only do rollovers would avoid prohibited transactions.
DOL Regulatory Agenda Shows Proposed Fiduciary Rule Expected in December
During a House committee hearing in early May, Secretary of Labor Alexander Acosta said the Department of Labor (DOL) is working with the Securities and Exchange Commission (SEC)...
Cerulli Questions Clean Shares’ Future With Fiduciary Rule Withdrawal
The firm argues clean share classes can stick to their channels with greater free transparency and lower cost.