Articles tagged "Pension Resource Institute"
Loaded with teeth and better crafted, the latest 'DOL Rule' attracts 19,000 comments -- and SIFMA, Charles Schwab Corp and Fidelity wrote words by the thousands in fierce opposition
Last time around, in 2016, federal regulators imposed a very RIA standard on brokers and insurance agents but it failed in court; now, the DOL is determined to avoid that mistake again, ERISA lawyer says.
January 6, 2024 at 3:52 AM
The Labor Dept. will publish the proposed 'Biden' DOL Fiduciary Rule (likely) next week, it says, but today it de-fanged the Trump ESG prohibitions
Two years after President Biden took office, the federal agency is ready to unleash a centrist DOL rule that eviscerates Trump's influence but stops short of Obama's stringent proposal.
November 23, 2022 at 2:15 AM
Bottom line after DOL bakes change into ERISA is it relented enough that plan sponsors can likely make ESG funds part of default option
Stung by most of the 8,700 commenters saying the Labor Dept. was witch hunting ESG, it gave ground, saved face but may have created a fresh problem for a Biden administration looking to restore the status quo
October 31, 2020 at 1:49 AM
Despite just a 30-day window, 8,700 people comment -- most with scathing disapproval -- on DOL's efforts to outlaw ESG in 401(k) plans on behalf of mystery proponents
The Department of Labor good-is-bad rulemaking clashes with the take of most Americans in 2020, who don't buy its investing logic, legal theory or take on humanity.
August 20, 2020 at 10:32 PM
With the DOL's new rule 95% likely to get finalized, RIAs need to be wary -- it targets them with new letter-of-the-law ERISA red tape
Right now, most RIAs recommend IRA rollovers without having to jump through a lot of hoops, but DOL's 'exemption' makes a federal case out of suggesting the move away from the protection of the employer’s plan
July 14, 2020 at 7:21 PM
New 'anti-regulatory' DOL Fiduciary Rule figures to keep $10-trillion IRA market under the IRS, allow some conflicted advice; does Rule's revival from dead presage Joe Biden presidency?
The rush to enact rewritten DOL Fiduciary Rule is a 'mystery' given Wall Street's presumed preference for defaulting to status quo; has presidential polling adverse to Donald Trump restored a sense of urgency?
June 4, 2020 at 2:28 AM
How Scottrade's 'pain'-seeking sales tactics and 'cut-and-paste' lawyering allegedly led to breaching a DOL rule
Massachusetts securities cops seized on DOL rule clause still under delay and seeded effects for brokerage business that are pervasive and lasting
March 1, 2018 at 1:08 AM
Why exactly Fidelity chose 2018 to levy visible .05% 401(k) surcharge on Vanguard funds
After an abrupt business model shift from recordkeeper to advisor, the Boston-based 401(k) king may be a leader in fee 'levelization' that encourages other fund firms to act
February 9, 2018 at 6:10 PM
Pro-DOL rule forces sharpen knives now that DOL rule's 18-month delay is carved in stone
Labor Department loses formerly effective duck-and-weave defense tactic after 'U-turn' toward a more Wall Street golden goose ethos
November 28, 2017 at 10:14 PM
Why brokers can't exactly relax even after DOL promises, in effect, to drop BICE from its rule, then delays it 18 months
Attorneys caution DOL-weary execs that Department of Labor can't huff, puff and ramrod through a big change, and even a rule delay is fraught for brokers that treat it as a pure reprieve
August 29, 2017 at 9:12 PM
To the surprise of some, Dept. of Labor grants get-out-of-DOL-rule-jail card to 225,000 firms that dabble in the 401(k) business
Without recent guidance, 401(k) specialists were set to devour one-off accounts held by brokers but new DOL rule guidance offers well-lit path to build toward a far larger 401(k) practice
August 15, 2017 at 12:54 AM
Alexander Acosta's DOL rule letter to WSJ contains double message and one long-term objective: 'Gut' it
Labor Secretary explains that flouting administrative rule is counterproductive but his comments to Wall Street Journal 'parrot' the brokerage lobby line, reassuring them that larger effort to kill the regulation is on track
May 23, 2017 at 7:29 PM
RIA lobby fires off letter to DOL claiming rules aimed at reining in overzealous stockbroker sales pitches chill RIA conversations with their prospects
The IAA's letter to the Labor Department asks that RIAs not get entangled in rules designed to prevent stockbrokers from making misleading pitches
April 20, 2017 at 5:16 PM
'Poof, it's gone!' DOL quietly strips two heavy lifts from the fiduciary rule as it makes delay official
The Department of Labor effectively makes the 60-day delay into a 270-day one as part of document that was supposed to only formalize the postponement until June 7
April 5, 2017 at 7:41 PM
How the DOL rule postponement is a blessing for RIAs that 'took their foot off the gas' -- and why Vanguard sees such delays as a creeping menace
The Feb. 3 Trump executive order offered grounds for the pause but Bill McNabb warns this delay may beget a never-ending death spiral of delays and 'troubling' uncertainty