News & Analysis as of

Employee Retirement Income Security Act (ERISA) Dodd-Frank Wall Street Reform and Consumer Protection Act Fiduciary Rule

Eversheds Sutherland (US) LLP

Department of Labor’s Fiduciary Proposal 3.0

More than 3,500 days have passed since the US Department of Labor (DOL) upended the financial services industries with its first, self-initiated proposal to redefine “investment advice fiduciary” for purposes of the Employee...more

Dechert LLP

Fifth Circuit Opinion Vacates DOL Fiduciary Rule

Dechert LLP on

The U.S. Court of Appeals for the Fifth Circuit on March 15, 2018 issued an opinion (Opinion) vacating the Department of Labor (DOL) fiduciary rule and related applicable exemptions. The DOL had promulgated the rule and...more

Proskauer - Employee Benefits & Executive...

Fifth Circuit Vacates DOL Fiduciary Rule

In a 2-1 decision, the U.S. Court of Appeals for the Fifth Circuit vacated the Department of Labor’s fiduciary rule, including the expanded definition of “investment advice fiduciary” and the associated exemptions. The...more

Skadden, Arps, Slate, Meagher & Flom LLP

Standards of Conduct for Investment Advisers, Broker-Dealers Under SEC Review

In the six months since Securities and Exchange Commission (SEC) Chairman Jay Clayton requested public comments on standards of conduct for investment advisers and broker-dealers, industry participants, investors and other...more

Dechert LLP

Treasury’s Third Report on Financial System Regulation Focuses on the Asset Management and Insurance Industries

Dechert LLP on

The U.S. Department of the Treasury (Treasury) recently released a report examining the regulatory framework for the asset management and insurance industries (Report). The Report is the third in a series of four reports that...more

Womble Bond Dickinson

Recent Developments on DOL Fiduciary Rule

Womble Bond Dickinson on

There have been several attempts to kill the Fiduciary Rule in recent months. On June 8, The Financial Choice Act (H.R. 10), which overhauls the Dodd-Frank Act and in the process repeals the Fiduciary Rule, passed by a vote...more

Burr & Forman

SEC Returns to the Fiduciary-Rule Arena

Burr & Forman on

On June 1, new SEC Chair Clayton returned the SEC to the arena in the policy debate surrounding the DOL’s Fiduciary Rule. Clayton’s public statement responded to a direct invitation for SEC participation by DOL Secretary...more

Skadden, Arps, Slate, Meagher & Flom LLP

No Further Delay on Implementation Date of DOL Conflict of Interest Rules

In a May 23, 2017, op-ed in The Wall Street Journal, Secretary of Labor Alexander Acosta indicated that the conflict of interest regulation (commonly referred to as the fiduciary rule) issued by the Department of Labor (DOL)...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Trouble at the Federal Reserve Bank of Virginia, where president Jeffrey Lacker abruptly resigned yesterday after disclosing that he had broken Fed rules in 2012 by relaying private deliberations to a financial analyst and...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Change in Administration Presents Opportunity to Revisit DOL Fiduciary Rule"

In 2016, regulatory developments introduced fundamental changes in the legal standards that govern the relationship of broker-dealers with their customers. Although the changes are not applicable until April 10, 2017, most in...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Trump’s Proposed Changes to Tax, Dodd-Frank, DOL Could Impact Executive Compensation"

President Donald Trump’s campaign proposals included changes to tax rates and a promise to repeal the Dodd-Frank Act. If enacted, these proposals could have a significant impact on the way businesses handle executive...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Measuring growth according to GDP. It’s how we’ve always done it, but here’s an interesting argument that the transition to an online services-based economy may mean that we’re underestimating growth by as much as 2 percent...more

Jackson Lewis P.C.

President Trump Orders Review of DOL Fiduciary Rule and Addresses Financial Industry in Latest Actions

Jackson Lewis P.C. on

On February 3, 2017, President Trump took actions aimed at alleviating some of the regulatory burdens on the financial services industry. Through a Presidential Memorandum, President Trump ordered the DOL to “examine the...more

Cadwalader, Wickersham & Taft LLP

The Trump Administration: President Trump Issues Executive Actions on Dodd-Frank and the DOL Fiduciary Rule

On February 3, 2017, President Trump signed two executive actions intended to provide a framework for scaling back the Dodd-Frank Act (“Dodd-Frank Act”) and rescinding or revising the Department of Labor’s “fiduciary rule.”...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

RBS has agreed to pay $85 million to the CFTC to resolve allegations that its traders “manipulated the ISDAfix benchmark rate over a period of five years to benefit the bank’s derivatives positions”....more

Littler

With the Election (Mercifully) Behind Us, What Will a Trump Administration Mean for Employers?

Littler on

The 2016 Presidential election was arguably the most contentious, unpredictable, and politically polarizing race in this nation's history. The contours of the electoral map changed by the hour in the days leading up to...more

Franczek P.C.

A Trump Presidency: Potential Impact on Employee Benefits Law and Policy

Franczek P.C. on

For many months, we have been speculating about how the results of the 2016 presidential election would impact employee benefits policy going forward. Now that Donald Trump has won the election and Republicans have secured a...more

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