Fiduciary Rule

With retirement accounts being affected by the upcoming fiduciary rule, many advisers aren’t sure what their first step should be.

Despite recent lawsuits against the Department of Labor on the matter, the regulations will go into effect as planned, predicts adviser Robert Lawton.

Despite a recently launched lawsuit against the DOL, the rules will go into effect as planned, says adviser Robert Lawton.

The U.S. Chamber of Commerce, SIFMA, FSI and other groups are asking a Texas court to vacate the Labor Department's new regulations less than a year before the rule goes into effect.

Industry organizations , including the U.S. Chamber of Commerce, allege that the DOL encroached on the U.S. Securities and Exchange Commission’s territory and overstepped boundaries for regulating broker-dealers that were established by Congress.

Some insiders at big brokerage firms encouraged the DOL to maintain progress during the rule’s development, which Assistant Secretary of Labor Phyllis Borzi says “kept us going.”

Changes will be more substantial than previous updates, said Phyllis Borzi, assistant secretary of labor for the Employee Benefits Security Administration, speaking this week during the IFEBP’s Washington Legislative Update.

Now that the sharply contested rule is the law of the land, a senior Labor Department official says the department looks to help with compliance, not find targets to sue.

Now that the sharply contested rule is the law of the land, a senior DoL official says the department looks to help with compliance, not find targets to sue.

New regulation leaves about a third of retirement plan service providers unclear of their professional status, finds a new industry survey.