Displaying 20 results
House panel pushes repeal of DOL independent contractor rule
Committee votes 21-13 to undo the contentious DOL regulation, paving the way for the measure to be considered by the full House.
DOL retirement security rule would be ‘disastrous,’ GOP rep says
Democrats at a House hearing say the retirement rule will ensure workers, retirees and retirement plan sponsors receive advice that is in their best interest.
House passes $78B bill with business, child tax breaks
Lackluster Republican support in the Senate threatens to sink the measure.
Fiduciaries must show they can serve Main Street investors to win DOL rule debate
'They’re making x dollars in a brokerage account,' says advisor. 'Just charge the client x but give them fiduciary advice for that x.'
Michigan advisor runs for House seat
As a financial advisor for more than 30 years, Diane Young has seen fiscal and retirement policies affect her clients. If voters in Michigan’s 10th District elect her, she’ll have a role in shaping the decisions Congress makes.
Provisions to kill DOL fiduciary proposal add to uncertainty
The Department of Labor stopped another financial industry attempt to slow the measure by declining to extend the public comment deadline of Jan. 2.
Government shutdown would threaten SEC agenda
If a federal shutdown occurs, the SEC would cease most operations, potentially jeopardizing pending rules. The IRS would also go quiet as advisors wait for SECURE 2.0 guidance.
GOP riders to stop SEC rules face difficult legislative path
'Senate Democrats are highly unlikely to go along with [those provisions] that have been inserted into appropriations bills in the House,' says an official at an advisor trade association.
House Republicans seek to kill SEC climate, mutual fund, custody proposals
The riders attached to a House bill funding the agency will meet resistance in the Democratic-majority Senate.
House GOP turns up heat on SEC Chair Gensler
Legislation introduced this week would restructure the agency and remove Gensler from its helm. Two subcommittees will grill agency officials on Thursday.
Social Security benefits targeted for cuts by House conservatives
A proposal by the House Republican Study Committee would gradually increase the retirement age until it hit 69 for those turning 62 in 2033.
White House dismisses GOP tax cut plan as handout to wealthy
President Joe Biden's top economic adviser, Lael Brainard, signaled the White House is unwilling to entertain the GOP proposal, which would cut income and corporate taxes.
House GOP tax package launches effort to pass reform legislation
The policies of most interest to financial advisors, such as expiring estate tax breaks, could come up later in the year in negotiations over a bipartisan bill.
Legislation lets funds delay redemptions if transfer involves senior abuse
The bill sails through House, 419-0, on a fast track. Its author, Rep. Ann Wagner, R-Mo., hopes the Senate acts this time around.
Hey, can the SEC really do that?
It’s the central question for the GOP and industry lobbyists as Congress takes a larger role in regulating the regulator.
Lawmakers include SECURE 2.0 in federal spending bill headed toward approval
The measure contains 92 retirement savings provisions — including increasing the RMD age, raising catch-up limits and expanding automatic enrollment — that give Republicans, Democrats and the financial industry plenty to love.
Automatic e-delivery of investment documents gains bipartisan support
Legislation that would make electronic investor communication the default method for disclosures sends a message this year, but will have to be reintroduced next year.
House Democrats pushing for SALT say they will vote for Biden tax bill
Representatives Josh Gottheimer, Tom Suozzi and Mikie Sherrill, who have led efforts to include an increase to the $10,000 cap on deductions for state and local tax, will support bill.
House bill would simplify approval of registered index-linked annuities
A new SEC registration form tailored to the products would support innovation, the Insured Retirement Institute argues.
Coronavirus stimulus package passes House, gets mixed adviser reviews
The $2.2 trillion bill will boost unemployment benefits and small-business loans, but some advisers said that might not be enough
