DOL Announces Relief for Fiduciaries
The Department of Labor today announced a temporary enforcement policy on prohibited transaction rules applicable to investment advice fiduciaries.
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Court Rebuffs Efforts to Appeal Decision Vacating Fiduciary Rule
The Fifth Circuit Court of Appeals today blocked third-party efforts to appeal its March ruling that vacated the Department of Labor’s fiduciary rule in its entirety.
Appeals Court Vacates Fiduciary Rule
A panel of federal judges today vacated the Department of Labor’s fiduciary rule in its entirety, overturning a lower court ruling.
ABA Calls for Significant Revisions to Fiduciary Rule
In a letter to Department of Labor Assistant Secretary Preston Rutledge today, ABA urged the DOL to make significant changes to its fiduciary rule in order to provide a finished, measured and functional regulation on investment advice.
ABA Urges House Committee to Approve 10 Bills Tomorrow
In advance of the House Financial Services Committee’s plans to vote on several regulatory reform bills tomorrow and Friday, ABA today sent a memo to committee members outlining the association’s support for 10 bills on the agenda.
ABA Warns on Employee Benefit Plan Audit Proposal
In a comment letter to the American Institute of CPAs on its proposal to modify audits of Employee Retirement Income Security Act-based employee benefit plans, ABA warned of unintended consequences regarding the requirement for auditors to post findings on specific benefit plan provisions.
ABA Releases Free Guide on Fiduciary Rule Implications for Marketing, Sales
With the Department of Labor’s fiduciary rule now in effect, ABA today released a new members-only guide to help banks understand the rule’s implications for their marketing and sales activity.
ABA Outlines Considerations for Potential Investment Adviser Code of Conduct
As the Securities and Exchange Commission considers whether or not to propose a standard of conduct for investment advisers and broker-dealers, the American Bankers Association in a comment letter today outlined several key considerations for the SEC as it moves forward.
DOL Delays Fiduciary Rule Exemption Effective Date
The Department of Labor today proposed to extend to July 1, 2019, the applicability date for certain exemptions to the fiduciary rule.
AICPA Extends Comment Period for Proposed Changes to Employee Benefit Plan Audits
The American Institute of CPAs has extended the deadline for comments on proposed changes to auditing standards relating to employee benefit plans.