News & Analysis as of

Investment Adviser Office of Management and Budget

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (23): The Final Rule Has Been Sent to the OMB

In November 2023, the U.S. Department of Labor released its package of proposed changes to the regulation defining fiduciary advice and to the exemptions for conflicts and compensation for investment recommendations to...more

Seward & Kissel LLP

SEC Issues Updated Fall 2023 Regulatory Agenda

Seward & Kissel LLP on

Who may be interested: Registered Investment Companies, Investment Advisers - Quick Take: The Office of Information and Regulatory Affairs, a division of the Office of Management and Budget, recently issued the Fall 2023...more

Faegre Drinker Biddle & Reath LLP

Best Interest Standard of Care for Advisors #37

The Department of Labor’s Proposed Prohibited Transaction Exemption and its Impact on Recommendations to Plans, Participants and IRAs (Part 2) - On July 7, 2020, the DOL issued a proposed prohibited transaction exemption...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL is “plotting” a new fiduciary rule

When a government agency is plotting, they have to do it in public and it’s just a matter of when you find the clue. The Department of Labor (DOL) has filed a draft regulation called “Improving Investment Advice for...more

Burr & Forman

DOL to Postpone Deadline for Fiduciary Rule

Burr & Forman on

The Department of Labor has received OMB certification, and sought expedited notice-and-comment, for a rule change that would postpone the full implementation deadline for its Fiduciary Rule from January 1, 2018 until July 1,...more

Katten Muchin Rosenman LLP

Sign of Future Changes? DOL Proposes 18-Month Extension of Transition Period for Compliance With ERISA "Fiduciary Investment...

On August 9, the US Department of Labor (DOL) announced in a court filing that it has proposed an 18-month extension of the full implementation of the Best Interest Contract Exemption (the "BIC Exemption") under the ERISA...more

McDermott Will & Emery

DOL Proposes 60-Day Delay of Fiduciary Rule in Response to White House Directive

The future of the fiduciary rule—originally set to be implemented this upcoming April—remains uncertain after the White House directed the United States Department of Labor (DOL) to reevaluate, defer implementation and...more

Proskauer - Employee Benefits & Executive...

USDOL Prevails in Kansas in Another Decision on Fiduciary Rule

On February 17, 2017, a federal district Court in Kansas upheld the U.S. Department of Labor’s conflict of interest rule and related exemptions in a suit brought by Market Synergy Group, Inc. This ruling on the merits follows...more

Littler

WPI Insider Briefing: New President, New Congress, New Direction in Workplace Policy

Littler on

President Donald J. Trump was sworn into office on January 20, 2017, ushering in a new balance of power in Washington and what is expected to be a dramatically different era of workplace policy. On his first day in office,...more

Dechert LLP

Proposed Anti-Money Laundering Regulation for Investment Advisers Passes First Hurdle, Gets OMB Approval

Dechert LLP on

There has recently been speculation about a new U.S. rule that would potentially subject investment advisers to the same types of anti-money laundering (“AML”) regulations that govern banks. Now, the speculation is over....more

Broker-Dealer Compliance + Regulation

SEC Chair’s Agenda Provides Glimpse of New Rules to Come

The SEC offered a peek into what new rule proposals we can expect in the coming months. The sneak preview includes some eye openers, like proposed rules to require funds to adopt liquidity management programs and...more

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