Flurry of legislative efforts to kill the controversial rule likely to fail, and the rule is a question of when, not if.
While the House has been active considering similar legislation, this marks the first time the Senate is jumping into the fray.
Organizations opposed to the fiduciary rule invested more in Capitol Hill outreach efforts last year, trying to convince Congress to stop the measure.
Independent financial advisers should heed two upcoming rules that may require operational changes, as well as recognize the overall aggressive regulatory environment coming out of the SEC.
Retailers Call DOL Joint Employer Definition ‘Orwellian’
A Labor Department rule that would raise investment advice standards for retirement accounts took its last step toward finalization Thursday night.
The two bills would require Congress to approve the rule. Fight on a best-interests standard is now split straight down party lines.
Labor Department takes a step to close retirement gap, but issues remain.
Politico reports the measure will move to the Office of Management and Budget by Jan. 31, setting the stage for finalization.
UPDATE: Will your job benefits get better this year?