Purchase Your Blue Vault Research Subscription
House committees ready two assaults on DOL fiduciary rule this week
One is a vote on a bill to kill Labor’s rule and replace it with a disclosure-based best-interest standard, while another will take up legislation to prevent funding for enforcement of the regulation
July 17, 2017 | by Mark Schoeff Jr. | InvestmentNews
Two House panels are poised this week to launch assaults on the Labor Department’s fiduciary rule.
On Wednesday, the House Education and the Workforce Committee will vote on legislation that would repeal the regulation and replace it with an advice standard based on disclosure. Also on Wednesday, the House Appropriations Committee will take up a DOL funding bill for fiscal 2018 that contains a rider that would prevent the agency from enforcing the fiduciary rule, which requires financial advisers to act in the best interests of their clients in retirement accounts.
Both measures are certain to pass their respective panels because of the Republican majorities on each.
Go BackRecent News
- Capital Square Opportunity Zone Fund I Pays Distributions for Q1 2023
- Rick Vitale, CFA Returns to Legendary Capital, Bringing Extensive Expertise and Vision to the Firm
- Ryman Hospitality Properties to Acquire JW Marriott Hill Country from BREIT
- Peak Capital Solutions continues expansion with hire for East Coast territory
- Blackstone Real Estate Fund Facing Substantial Redemption Requests
“Always, but especially in this day of lawsuits and ever increasing regulations, the responsibility for a financial advisor t do their own due diligence on products they sell falls squarely on themselves. No one is going to take greater interest in protecting their practice than they are. We use the Blue Vault Partners Nontraded REIT Review to keep us informed of the performance of every single nontraded REIT. Finally, complete transparency is available for advisors using nontraded REITs. Every advisor using REITs in their practice should make the small annual investment of subscribing to Blue Vault’s reporting services.”
