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Browsing: Retirement issues
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.
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.
Wealth management today should be more ‘Six Million Dollar Man’ and less ‘The Terminator.’
In a notice of administrative action filed in an ongoing lawsuit with the wealth management firm Thrivent Financial, the Department of Labor said that it has submitted a proposal to the Office of Management and Budget to extend to July 1, 2019, the applicability date for certain exemptions to the fiduciary rule.
The Department of Labor’s final fiduciary rule is “deeply flawed in several critical areas” that prevent it from functioning properly, ABA said in a comment letter today.
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.
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.
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.