While litigation (and other challenges) against the US Department of Labor’s (DOL’s) Retirement Security Rule is likely, its outcome is uncertain; therefore, impacted firms should consider approaches to implementation....more
President Joe Biden has been in office for 34 days and his nominee for Secretary of Labor, Marty Walsh, has not yet been confirmed. So far, Mr. Walsh has not publicly stated much regarding his views or intended priorities...more
2/23/2021
/ Administrative Appointments ,
Biden Administration ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Fiduciary Rule ,
Form 5500 ,
Investment Adviser ,
Investment Management ,
Proxy Voting Guidelines ,
Regulatory Reform ,
Retirement Plan
Just as broker-dealers and investment advisers finalized their initial implementation plans for the US Securities and Exchange Commission (SEC) Form CRS and Regulation Best Interest (Reg. BI), the US Department of Labor (DOL)...more
What does this mean, and what should financial institutions do now?
In a 2-1 decision, the US Court of Appeals for the Fifth Circuit struck down the US Department of Labor’s (DOL) fiduciary rule, deciding in favor of a...more
The Fiduciary Rule transition period is extended until mid-2019, with financial institutions having flexibility in complying with the impartial conduct standards during this period....more
Thrivent wins injunction on anti-arbitration clause.
Update on the Fiduciary Rule Delay -
On November 1, the White House Office of Management and Budget (OMB) received a much-anticipated notice from the US Department of...more
The proposal would extend the transition period to July 1, 2019.
The US Department of Labor (DOL) has proposed to delay the applicability of additional conditions of the Best Interest Contract (BIC) exemption, Principal...more
The Department of Labor ties up a few loose ends with FAQS regarding the fiduciary rule....more
The proposal is expected to delay additional conditions of exemptions from January 1, 2018 to July 1, 2019, but the ultimate length of delay will not be clear until the DOL publishes a final rule....more
The DOL has issued transition FAQs and a nonenforcement policy—meanwhile, here comes the SEC....more
The rule is delayed by 60 days, with core elements taking effect June 9 as the DOL conducts a study.
The Department of Labor (DOL) has issued in final form its eagerly awaited delay of changes to the fiduciary investment...more
60-day delay proposed, comments requested on president’s study.
The US Department of Labor (DOL) has proposed to delay the applicability date of the fiduciary rule (and related prohibited transaction exemptions) by 60...more
Memorandum does not delay applicability date—but is it enough for firms to stand down?
Anxiously awaited by many in the financial services industry, President Donald Trump has issued a memorandum ordering the Department...more
DOL releases additional guidance on fiduciary rule in the waning days of the Obama administration.
The US Department of Labor (DOL) has released two new sets of frequently-asked-questions (FAQs) regarding the conflict of...more
The election of Donald J. Trump to be the 45th president of the United States and Republican control of both congressional houses could have profound impacts on financial services regulation, including the fiduciary...more