Bank of America Corp.’s wealth management arm Merrill Lynch is reintroducing brokerage capabilities to its retirement accounts, reversing a policy put in place to comply with Obama-era regulation. In response to requests from customers, the company expects to add a …
Attorneys general from California, Oregon and New York on Thursday filed a motion to intervene in a case between the securities industry and the U.S. Department of Labor, petitioning the full 5th U.S. Circuit Court of Appeals to revisit its …
A federal appeals court on Thursday voided the U.S. Department of Labor’s “fiduciary rule,” which had been adopted in 2016 under the Obama administration to curb conflicts of interest among providers of financial advice to Americans planning for retirement. The …
The U.S. Labor Department will delay implementation of its “fiduciary” rule by 60 days while it undertakes a review on whether the rule may hinder Americans’ ability to get access to retirement investment advice, according to a filing in the …
The U.S. Labor Department has taken a first step toward possible derailment or dilution of its controversial rule on retirement advice as it begins to re-examine it at the directive of President Donald Trump, according to a notice made public …
The U.S. Chamber of Commerce appealed a Texas federal judge’s ruling upholding a Labor Department’s regulation aimed at putting retirement savers’ interest first on Friday, the latest salvo in the securities industry’s fight against the regulation. Earlier this month, Chief …
A group of lawyers representing insurance and securities brokerages have made a curious argument for why a federal court should kill a rule aimed at protecting retirement savers: It restricts Wall Street’s First Amendment rights. In front of a packed …
The U.S. Chamber of Commerce wants you to believe it is looking out for the little guy in its fight against new government regulation of the retirement investment advice industry. But that is a facade – as one consumer advocacy …
Wall Street and business lobbying groups have teamed up to fight the Obama administration’s new rules for U.S. brokers managing retirement accounts, saying the regulations include a ” deliberately unworkable” fiduciary standard. The U.S. Chamber of Commerce joined groups including …
