The U.S. Labor Department has taken a first step toward possible derailment or dilution of its controversial rule on retirement advice as it begins to re-examine it at the directive of President Donald Trump, according to a notice made public …
A group of lawyers representing insurance and securities brokerages have made a curious argument for why a federal court should kill a rule aimed at protecting retirement savers: It restricts Wall Street’s First Amendment rights. In front of a packed …
The U.S. Chamber of Commerce said on Monday it is prepared to sue the federal government if it finds a proposed rule on financial advisers meant to protect retirees is unworkable. The rule would create a “fiduciary standard,” meaning that …
Two influential U.S. lawmakers on Thursday criticized the financial industry for saying in public that a new rule on retirement advice could have “dire consequences,” but then speaking optimistically about it with shareholders. The proposed rule would create a “fiduciary …
The U.S. Labor Department on Friday took the next step toward requiring brokers who provide retirement advice to follow a “fiduciary” standard of putting clients’ interests first, a move that could roil the financial services industry. The White House’s Office …
U.S. Senator Elizabeth Warren said 13 major U.S. life insurers had admitted to using incentives such as expensive vacations and gifts, which could encourage agents “to put their own interests ahead of their clients.” The senator had launched an investigation …
MetLife Inc. said its dual roles of offering retirement products and advising customers are threatened by a U.S. Labor Department proposal that was designed to make sure savers’ interests are put first. “Without substantial modifications, the proposal could force companies …
