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IRA regulation on the horizon, Washington experts say
trueThe Department of Labor’s proposed update to its fiduciary rule “is all about the ERISA-fication of the IRA space,” Groom Law Group Chairman Steven Saxon told attendees at the Insured Retirement Institute’s Washington conference on Monday.
Senate panel offering no money for DOL fiduciary rule
trueA Senate Appropriations Committee budget bill approved Thursday doesn't allow any money for the Department of Labor to finalize its proposed fiduciary rule.
House committee cuts funding for DOL fiduciary rule-making
trueThe Department of Labor would be unable to spend any money to update its fiduciary rule under a House Appropriations Committee budget approved Wednesday.
Labor secretary defends conflict-of-interest proposal
trueLabor Secretary Thomas Perez defended his agency's proposed new rule to address conflicts of interest in retirement investment advice at a House hearing Wednesday.
DOL fiduciary rule in crosshairs of new spending bill
trueA House bill introduced Tuesday would stop a Labor Department proposal to change investment advice standards for retirement accounts.
Some 39% of benefit plan audits show major deficiencies — EBSA study
trueSome accountants auditing employee benefit plans have a quality problem, said a study published Thursday by the Department of Labor's Employee Benefits Security Administration.
Experts dissecting fiduciary rule's carve-outs
trueDefined contribution industry participants are paying close attention to the carve-outs — exemptions distinguishing non-fiduciary behavior from fiduciary behavior — in the Labor Department's fiduciary rules proposed last month.
Labor Department extends fiduciary rule comment period
trueThe Department of Labor will give extra time for public comments on its proposed new fiduciary conflict-of-interest rule.
DeAWM petitions DOL for exemption to manage U.S. retirement assets
trueDeutsche Asset & Wealth Management, the money management unit of Deutsche Bank, applied to the U.S. Department of Labor for permission to continue providing services to retirement plans after the bank's DB Group Services U.K. unit pleaded guilty to federal charges that it manipulated interest ...
DOL's proposed fiduciary rule on advice gets a thumbs-up
trueDefined contribution industry executives are optimistic that after nearly four years of work and intense debate, the Department of Labor's proposal for updating a 40-year fiduciary standard for anyone giving retirement investment advice will finally bring greater protection for their participants ...
DOL grants BNP Paribas money management exemption
trueBNP Paribas can continue providing money management services to U.S. retirement plans, despite the parent company's June 2014 guilty plea to violating U.S. sanctions in several countries.
DOL's proposal for new fiduciary standard moves to comment period
trueThe Department of Labor is moving full steam ahead with a proposed fiduciary standard for anyone giving retirement investment advice after years of retrenching, officials announced Tuesday.
DOL, SEC tag-teaming managers on enforcement
trueExecutives at money managers and other financial firms — bracing for new fiduciary standards from both the DOL and SEC — are feeling increasingly double-teamed by the agencies.
ERISA Advisory Council to study derisking and lifetime participation
trueThe Department of Labor ERISA Advisory Council will spend 2015 taking an in-depth look at pension fund derisking and lifetime plan participation.
Obama puts weight behind push for fiduciary standard
trueWith President Barack Obama now leading the charge, a multiyear battle to update a fiduciary standard for anyone giving retirement investment advice has defined contribution plan executives and service providers bracing for big changes.