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The Supreme Court Limits the President's Recess Appointment Power

In January 2012, President Obama made recess appointments of the first Director of the Consumer Financial Protection Bureau and two members of the National Labor Relations Board during a three day period when the Senate was...more

SEC Settles with Exempt Reporting Adviser over Pay-to-Play Violations

The SEC settled public administrative proceedings against TL Ventures Inc., a venture capital fund adviser (the “Adviser”), over violations of Rule 206(4)-5 (the “Rule”) under the Investment Advisers Act of 1940 (the...more

Pension Reform Update

As June 30 approaches, the likelihood of an on-time balanced budget remains a question. And while there are many factors contributing to the commonwealth’s grim fiscal situation, there has been a lot of talk as of late about...more

Weekly Update from the NC State House - June 2014: Signs you are near adjournment may include but are not limited to...

Symptoms of Adjournment - Signs you are near adjournment may include but are not limited to a budget conference committee, bills being stripped to carry sweeping policy changes moving very quickly, bills held hostage...more

House Committee holds third hearing on alleged discrimination at the CFPB

Yesterday, the House Financial Services Committee’s Oversight and Investigations Subcommittee held a third hearing in its series of hearings addressing alleged discrimination at the CFPB. The Subcommittee heard testimony from...more

House to hold third hearing on CFPB discrimination

The House Financial Services Committee’s Oversight and Investigations Subcommittee will be holding a hearing tomorrow entitled “Allegations of Discrimination and Retaliation within the Consumer Financial Protection Bureau,...more

From Second and State: The Week Ahead – June 16-20, 2014

The House and Senate will be back in session Monday, June 16 at 1:00 p.m. As June – otherwise dubbed “budget month” – ticks away, both chambers have four session days scheduled next week, and the House Appropriations...more

Weekly Update from the NC State House - June 2014: Following the GOP state convention this past weekend, House members returned to...

House Budget - Following the GOP state convention this past weekend, House members returned to Raleigh Tuesday to continue the budget process. House leadership held a press conference Tuesday morning to unveil their...more

South Carolina Legislative Update

In the final regular week of work for the 120th legislative session, the General Assembly set to work through a statewide ban on texting while driving and ethic reforms – in addition to agreeing to a $24 billion budget for...more

New Fiduciary Rule Delayed

The Department of Labor (DOL) just announced that they were delaying the implementation of a new fiduciary rule for retirement plans and individual retirement accounts. They claim it will be released in 2015. How many years...more

Weekly Update from the SC State House - June 2014: The House confirmed a Statewide Appointment to the TEC Board and the Senate...

Details from Each Chamber: HOUSE - The House entered the final week of the legislative session with a number of things left on the Calendar. Wednesday, after confirming a Statewide Appointment to the TEC Board,...more

House holds second hearing on discrimination at the CFPB

On Wednesday of last week, the House Financial Services Committee held another hearing on alleged CFPB employee discrimination. At the hearing, which was titled “Allegations of Discrimination and Retaliation within the...more

Minnesota Weekly Legislative Update: 2014 Legislative Session Wrap-up

Policy decisions, as well as fiscal decisions, influenced the direction of the session. Legislators passed a total of 165 bills that were signed into law by Governor Mark Dayton. Among them was the Women's Economic Security...more

NY Bill Seeks to Strip Insurers of Discretion When Substance Abuse Services Should Be ERISA Preempted

The New York State Senate is considering passing Bill No. 4326 which seeks to address an epidemic of heroin and prescription drug abuse by requiring insurers to provide in-patient treatment to addicts. Publicity over the...more

Private Fund Update

In this issue: - The 113th Congress - The Administration - Securities and Exchange Commission - Association for Corporate Growth (ACG) - Excerpt from The Administration: Last week,...more

Congress Returns from Spring Recess

Returning from a two-week recess, Congress faces a quickly tightening legislative calendar over the next three months before the month-long August recess. During that time there are additional breaks scheduled for Memorial...more

House issues subpoenas in connection with investigation of alleged CFPB employee discrimination

According to a Politico report, the House Financial Services Committee’s Subcommittee on Oversight and Investigations voted yesterday to issue three subpoenas in connection with the Subcommittee’s investigation into alleged...more

New Brunswick Reforms MLAs Pensions to Shared Risk

On March 26, 2014, the New Brunswick legislature introduced for first reading Bill 51, An Act Respecting Members’ Pensions, which proposes to move Members of the Legislative Assembly (MLAs) to the shared risk pension plan...more

Alabama Legislative Update - Week 10: As Session Moves Towards Close, Budgets Take Center Stage

The 2014 session of the Alabama Legislature is winding and grinding down as lawmakers hammer out the General Fund and Education Trust Fund budgets. Last week saw progress, albeit slow. ...more

Alabama Legislative Update - Week 6: Halfway Through the Session, Tax Bills Take Center Stage

Last week marked the halfway point in this legislative session, with Tuesday being the 15th of 30 legislative days. Legislative leaders still expect the 2014 session to end on April 7....more

What the Pension Reform Decision in Arizona May Mean for Illinois

Today the Arizona Supreme Court has handed down its much-anticipated decision in Fields v. The Elected Officials’ Retirement Plan. In Fields, the Court unanimously struck down a pension reform package enacted by the...more

MyRA Will Offer Retirement Accounts to Employees Without Access Through Employers

It is estimated that nearly half of American employees do not have access to retirement plans sponsored by their employers. President Obama announced in his State of the Union address that he would be ordering the Department...more

U.S. Department of Treasury Directed to Create "myRA"

New Retirement Savings Account Aimed at those Without Access to Such Plans Through Their Employer - President Obama announced in his State of the Union address that he would be ordering the Department of the Treasury...more

MyRA: A nice idea, but it won’t become popular

Regardless of which side of the political aisle created it, I like any product or plan that allows rank and file employees to save for retirement. President Obama made good on his State of the Union speech promise by...more

Illinois General Assembly Passes Pension Reform Bill

Both chambers of the Illinois General Assembly adopted the Conference Committee Report to Senate Bill 1 on December 3, 2013. The bill provides comprehensive pension reform for four state retirement systems – the Teachers’...more

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