Chamber’s CEO: ‘Already Working’ With Trump to Kill DOL Fiduciary Rule

DECEMBER 12, 2016 | by Melanie Waddell | ThinkAdvisor

U.S. Chamber of Commerce is ‘urging immediate action to undo’ the rule, Thomas Donohue says

The U.S. Chamber of Commerce is “already working” with Trump administration transition officials to “undo” the Department of Labor’s fiduciary rule, Thomas Donohue, Chamber’s president and CEO, said Monday.

In his Monday blog post, In Your Corner, Donohue said that the Chamber is “urging immediate action to undo” Labor’s fiduciary rule, because “if enacted, it would choke economic growth, increase frivolous litigation against financial advisers and make saving for retirement more difficult for hardworking Americans.”

President-elect Donald Trump, Donohue wrote, “will have the power to quickly undo some of President Obama’s executive orders by issuing executive orders of his own,” but other regulatory reforms will require going through “the lengthier and more complicated rulemaking process.”

The DOL’s rule is one of those.

Recent

Investcorp–BCP Merger Highlights the Difference Between NAV and Market Value

November 12, 2026

Investcorp Credit Management BDC’s proposed merger with BCP illustrates why advisors should distinguish a transaction’s NAV-based exchange formula from the market value of the consideration received.

VineBrook Ends Hardship Repurchases as Debt Maturities Approach

November 12, 2026

VineBrook’s repurchase change underscores the importance of reviewing withdrawal assumptions alongside a real estate investment’s financing needs.

Nuveen Reports $63.1 Million in Q3 DST Program Proceeds

November 10, 2026

Nuveen Global Cities REIT reported $63.1 million in quarterly DST program proceeds. Beyond the fundraising figures, its disclosures highlight why advisors should examine master-lease support, control over a potential exchange, and the ownership and liquidity rights investors could receive afterward.

Variant Adds Share-Auction Framework Alongside Quarterly Repurchase Offers

November 10, 2026

Variant Alternative Income Fund has outlined potential share auctions outside its quarterly repurchase offers. For advisors, the framework raises practical questions about the cost of accessing cash sooner, execution uncertainty, and how auction proceeds could compare with waiting for repurchases.

Most Popular

Blue Vault Performance Reports Update 10-23-2023

October 23, 2023

Blue Vault has published the following Interval Fund and Tender Offer Fund individual performance reports...

Blue Vault Q2 2023 Performance Reports Update

October 3, 2023

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…

Blue Vault Q2 2023 Performance Reports Update

September 25, 2023

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Don’t miss alts news
and educational events
Sign Up For Emails

Stand out with alts marketing from Marketing Intent