Multiple carouse
1940 Investment Advisers Act The measure codifies the regulation of investment advisers. It is mostly a registration,…
1940
Investment Advisers Act
The measure codifies the regulation of investment advisers. It is mostly a registration, disclosure and fraud-prevention law noting a fiduciary obligation.
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2005
The ‘Merrill Lynch rule’
The SEC re-proposes a 1999 rule to exempt fee-based brokerage accounts from fiduciary requirements. A court vacates it in 2007.
2010
Dodd-Frank law
Dodd-Frank gives the SEC the authority to promulgate a fiduciary duty for all retail advice to be no less stringent than the 1940 Act but with safe harbors.
2010
DOL releases fiduciary rule
The DOL releases a rule designed to limit conflicts of interest for advisers working with
retirement accounts, but withdraws it in 2011.
retirement accounts, but withdraws it in 2011.
2011
SEC report favors uniform fiduciary
The SEC staff issues a report recommending the commission propose a uniform fiduciary duty standard.
https://www.investmentnews.com/wp-content/uploads/assets/graphics src=”/wp-content/uploads2016/04/CI104785414.JPG”
2013
Perez confirmed
Vice President Joe Biden swears in Thomas Perez as Labor secretary. At his confirmation hearing, he promises to listen to stakeholders on a fiduciary rule.
2015
DOL re-proposes rule
In April, the DOL proposes a new rule requiring fiduciary advice for retirement accounts. Two comment periods and four days of hearings follow.
2015
Political sides drawn
Politicians, including Sen. Elizabeth Warren (for) and Rep. Ann Wagner (against), step up rhetoric on the rule. Bills are introduced to block it.
2016
DOL releases final fiduciary rule
On April 6, the Labor Department releases its final version of the fiduciary rule, including changes to many areas of industry opposition.
1940
Investment Advisers Act
The measure codifies the regulation of investment advisers. It is mostly a registration, disclosure and fraud-prevention law noting a fiduciary obligation.
img class=”timeline-img” src=”/assets/docs/CI104743411.PNG”>
2005
The ‘Merrill Lynch rule’
The SEC re-proposes a 1999 rule to exempt fee-based brokerage accounts from fiduciary requirements. A court vacates it in 2007.
2010
Dodd-Frank law
Dodd-Frank gives the SEC the authority to promulgate a fiduciary duty for all retail advice to be no less stringent than the 1940 Act but with safe harbors.
2010
DOL releases fiduciary rule
The DOL releases a rule designed to limit conflicts of interest for advisers working with
retirement accounts, but withdraws it in 2011.
retirement accounts, but withdraws it in 2011.
2011
SEC report favors uniform fiduciary
The SEC staff issues a report recommending the commission propose a uniform fiduciary duty standard.
2013
Perez confirmed
Vice President Joe Biden swears in Thomas Perez as Labor secretary. At his confirmation hearing, he promises to listen to stakeholders on a fiduciary rule.
2015
DOL re-proposes rule
In April, the DOL proposes a new rule requiring fiduciary advice for retirement accounts. Two comment periods and four days of hearings follow.
img class=”timeline-img” src=”/assets/graphics/CI104787414.JPG”>
2015
Political sides drawn
Politicians, including Sen. Elizabeth Warren (for) and Rep. Ann Wagner (against), step up rhetoric on the rule. Bills are introduced to block it.
2016
DOL releases final fiduciary rule
On April 6, the Labor Department releases its final version of the fiduciary rule, including changes to many areas of industry opposition.
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