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.
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.
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.
The CEOs of nine financial trade associations, including ABA, wrote to newly confirmed Secretary of Labor Alexander Acosta today requesting a meeting on the Department of Labor’s fiduciary rule.
ABA’s Bank Insurance Council wrote to the Department of Labor on Monday seeking clarifications and changes to its fiduciary rule affecting banks that sell insurance.
ABA’s Wayne Abernathy and Shaun Kern provide perspective on the flurry of White House actions thus far.
ABA today called for a longer delay of the Department of Labor’s fiduciary rule effective date and an updated economic and legal analysis of the final rule.
The Department of Labor is proposing to extend the applicability deadline of the fiduciary rule for 60 days, until June 7, according to a notice published in the Federal Register.
A judge in the U.S. District court for the Northern District of Texas ruled yesterday that the Department of Labor acted within its statutory authority in issuing the fiduciary rule last year, which greatly expanded the definition of “fiduciary” under the Employee Retirement Income Security Act and the Internal Revenue Code.