Fiduciary

Newswire Special- CBO Details Long-Term Budget Outlook – Senate Blocks Obama Provision for Municipal Retirement PlansDOL Officially Starts Process to Delay Applicability Date of Fiduciary Rule

Topics: DOL, Fiduciary, Regulation

On Tuesday, the Office of Management and Budget (OMB) completed its review of the DOL’s proposal to delay the April 10th applicability date of the fiduciary rule for 60 days. The proposal was published this morning in the Federal Register, which starts a 15-day comment period on the advisability of extending the applicability date.

Texas Judge Upholds DOL Fiduciary Rule in Dallas Lawsuit

Topics: DOL, Fiduciary, Regulation

Yesterday, US District Court Judge Barbara Lynn upheld the Department of Labor’s fiduciary rule by dismissing the lawsuit brought by the Chamber of Commerce, SIFMA, ACLI, NAIFA, and other trade groups in the Northern District of Texas. Judge Lynn granted the DOL’s motion for summary judgment, ruling that the Department did not exceed its authority…

Trump Issues White House Memorandum to Examine Fiduciary Rule

Topics: Fiduciary, Regulation

Today, President Trump issued a memorandum directing the Department of Labor to examine the fiduciary rule, and to revise or rescind the rule if it is determined that retirement savers could be negatively impacted. This memorandum did not directly delay the applicability date of the fiduciary rule, which is April 10, but the Department is…

Who’s Who – Are Trust Advisors Fiduciaries? Does It Matter?

Topics: Fiduciary, Regulation

A Trust Advisor is an individual (or a group of individuals) separate from the settlor (the creator) of a trust, the trustee, or a beneficiary, who is designated in the trust instrument to direct the trustee in the exercise of the trustee’s powers. Trust protectors, investment advisors, distribution advisors, and business advisors/directors are all variations…

AALU Alert- The Fiduciary Rule Under the Trump Administration

Topics: Fiduciary, Regulation

As President-­Elect Trump begins assembling his Cabinet, Washington is scrambling to read the tea leaves on the positions he and his staff will take on a host of issues not covered in the Presidential Debates. Unfortunately, the DOL fiduciary rule is one of these issues—no matter how important it may be to producers and other...