Tag: Department of Labor
DOL Denies Fiduciary Rule Comment Extension, Schedules Online Hearing for Dec....
The request to extend the comment period for the U.S. Department of Labor’s Retirement Security Rule has officially been denied.
As The DI Wire previously...
DOL Unveils New Fiduciary Rule, Vows to “Close Loopholes”
The Department of Labor released its new retirement security rule amending the definition of an investment advice fiduciary under the Employee Retirement Income Security...
New DOL Fiduciary Rule to be Unveiled Today
The Department of Labor’s much-anticipated, and highly controversial, new retirement security rule – referred to as the fiduciary rule by many industry insiders –...
DOL: Don’t Call it a Fiduciary Rule
As reported last month by The DI Wire, the Department of Labor submitted a proposal to the Office of Management and Budget that “would...
DOL Submits New Fiduciary Rule for Review; Faces Fierce Resistance
The Department of Labor is facing strong opposition to its newly released proposal that “would amend the regulatory definition of the term fiduciary …...
Congressional Leaders Urge DOL to Halt Work on New Fiduciary Rule
In a letter to Acting Labor Secretary Julie Su, senior lawmakers on the Senate Health, Education, Labor and Pensions (HELP) Committee and the House...
Dept. of Labor to Unveil New Fiduciary Rule
The Department of Labor announced in its spring 2023 regulatory agenda that its revised fiduciary rule, now referenced as “Conflict of Interest in Investment...
DOL Independent Contractor Rule Debated
The Department of Labor’s recent proposal regarding the classification of independent contractor rules was recently debated during a hearing of the House Subcommittee on...
Regulatory Perspective: The Path Ahead for Alts in 2023
Following downturns in the stock and bond markets, financial professionals and Main Street investors are turning to alternative investments to further diversify in a...
FSI Adds Five Directors to Board
The Financial Services Institute announced that it has added five directors to its board.
The new members are:
Libet Anderson, president – Concourse Financial Group...
FSI Study “Confirms Our Worst Fears” About DOL’s Independent Contractor Proposal
The Financial Services Institute announced the findings of a study analyzing the potential impact of the Department of Labor’s recent proposal regarding independent contractor...
Labor Dept. Publishes Final ESG Rule for Retirement Investments
The U.S. Department of Labor on Tuesday published a final rule that allows plan fiduciaries to consider climate change and other environmental, social and...
Financial Services Institute Requests that DOL Extend Comment Period on Independent...
The Financial Services Institute is asking the U.S. Department of Labor to extend the comment period for an Independent Contractor Rule Proposal released by...
Department of Labor Proposes Rule to Restrict Classification of IBD Reps...
The Department of Labor has published a Notice of Proposed Rulemaking to help employers and workers determine whether a worker is an employee or...
DOL Appeals District Court Ruling on Independent Contractor Rule
The Department of Labor filed an appeal on Friday after a Texas federal judge ruled that the agency violated the Administrative Procedure Act by...
Annuities Trade Group Sues DOL Over Fiduciary Rule
The Federation of Americans for Consumer Choice Inc., a relatively new trade group that represents insurance agents and annuities sellers, has filed a lawsuit...
Senate Confirms Boston Mayor Marty Walsh as Secretary of Labor
The United States Senate has confirmed Boston Mayor Marty Walsh as the next U.S. Department of Labor Secretary by a 68-29 margin on Monday...
Department of Labor Unveils Proposed Exemption for Investment Advice Fiduciaries
The U.S. Department of Labor has released a new proposed class exemption that would allow investment advice fiduciaries to receive compensation for their advice....
Bloomberg Plans to Restore DOL Fiduciary Rule if Elected
Former New York City mayor and presidential candidate Michael Bloomberg seeks to restore the Department of Labor’s now-defunct fiduciary rule, according to his recently...
President Trump Officially Nominates Eugene Scalia to Head Department of Labor
President Donald Trump announced his intent on Tuesday to nominate Eugene Scalia as the Secretary of Labor, replacing Alexander Acosta who resigned in mid-July...