Decoding D.C.

AALU’s weekly Government Affairs product covering essential policy and politics for the advisor.


Marathon Mark-up to Extend Popular Tax Breaks Paid for with Estate Taxes

To pay for the cost of the tax extender bill, Democrats proposed rolling back the temporarily doubled estate and gift tax exemptions enacted in the TCJA—the doubled exemptions would sunset in 2022 instead of 2025. As we stressed during the passage of the TCJA, Democrats would likely look at the estate tax as a revenue…

New Jersey and Massachusetts Fiduciary Proposals

New Jersey proposed a rule in April that would apply a fiduciary duty to all brokers and advisors registered with the NJ Bureau of Securities – including advice around the opening of or transfer of assets to any type of account. While the proposal applies to the sale of securities, it does not apply to…

How to Hug a Porcupine: Relationship Building with Elected Officials

Top four takeaways from the Congressional Management Foundation’s webinar on building relationships with lawmakers: The form of advocacy that most influences Members of Congress is in-person meetings with constituents – especially constituents who are representing a larger group or organization. In CMF’s research and surveys, these meetings ranked significantly higher than meetings with lobbyists. The…

Ambassadors in Action: Russell Vandevelde and Rep. Terri Sewell

At the luncheon, the conversation stretched from the recently passed SECURE Act, the invaluable role that companies can have in helping their employees save for retirement, and how the business uses of life insurance can help companies recruit and retain key employees in cities like Birmingham. The Congresswoman asked questions about tax reform and its…

SEC to Vote / Dem Debate Guide / AALU Action with Schweikert and Schneider / Retirement Bill on the Move

Topics: Advisor standard of conduct, Congress, Regulation, Retirement security, SEC

May 31, 2019 SEC Expected to Finalize Standard of Conduct Rule on June 5 The SEC will hold an open hearing on June 5th, where the Commission is expected to vote to finalize their standard of conduct proposal for broker-dealers and advisors. The SEC initially proposed the rule in April of 2018, and it consists…

Democratic Debates to Refine Overwhelming Field before Primaries

The first Democratic debate is limited to 20 candidates. Thus far 19 have qualified. Each candidate has two paths to inclusion in the upcoming debate. Any candidate who has at least 65,000 individual donors and a minimum of 200 donors across 20 States will make the cut. Alternatively, any candidate who receives one percentage point…