Wealth Management

Yellen Opens Door to Reforms of Enhanced Leverage Ratio

Testifying before the Senate Banking Committee today, Federal Reserve Chairman Janet Yellen acknowledged that aspects of the agency’s enhanced supplementary leverage ratio “may be having unintended adverse consequences” and said the Fed is looking into changes.

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DOL Seeks Feedback on Fiduciary Rule

The Department of Labor yesterday issued a request for information on the fiduciary rule as part of its ongoing review of the rule in response to an executive order by President Trump.

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House, Senate Introduce Bills to Block Fiduciary Rule

On the eve of the fiduciary rule’s effective date, Republican lawmakers in both the House and Senate introduced legislation today to block the rule, which greatly expands the definition of who counts as a “fiduciary” under the Employee Retirement Income Security Act and the Internal Revenue Code.

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Acosta: No Additional Delay for Fiduciary Rule

Labor Secretary Alexander Acosta today announced that the Department of Labor will not delay the June 9 effective date for the fiduciary rule, which greatly expanded the definition of who counts as a “fiduciary” under the Employee Retirement Income Security Act and the Internal Revenue Code.

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Lawmakers Call for Further Delay of Fiduciary Rule

In a letter today to Labor Secretary Alexander Acosta, a group of more than 100 Republican lawmakers called for a delay to the fiduciary rule, which expands the definition of “fiduciary” under the Employee Retirement Income Security Act and the Internal Revenue Code.

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