DOL Fiduciary News: November 14, 2016
Please Note:
These links will take you directly to the homepage of the website that features the article.
To reach the article directly, copy and paste the article title into the search feature on the homepage of the publication website.
FIA Sales Ready to Push the Reset Button?
InsuranceNewsNet; November 11, 2016
When the Department of Labor’s fiduciary rule was released in April, analysts expected a rush to sell more fixed indexed annuities (FIAs) in anticipation of distributors having a tougher time selling them next year.
But instead of rising in the third quarter from the second quarter, sequential sales of FIAs softened well ahead of schedule. In addition, it seems as though the urgency among agents and distributors to sell FIAs has not materialized, according to a top life and annuity company.
(https://insurancenewsnet.com)
Proceed or stand down: Should advisers continue preparing for the DOL fiduciary rule post Trump?
InvestmentNews; Nov 11, 2016 @ 1:21 pm
Advisory firms on their way to complying with a Labor Department investment advice regulation are debating how many resources they should continue to allocate to a rule whose fate is now uncertain under President-elect Donald Trump.
While many experts and advisers say firms should continue on that path toward compliance, others are in a “wait-and-see” mode.
(http://www.investmentnews.com)
How Trump, New Labor Chief Could Kill DOL Fiduciary Rule
ThinkAdvisor; November 13, 2016
One of the most hotly debated questions in the advisory space now that Donald Trump has become president-elect is whether his administration will seek to overturn, repeal or gut certain portions of the Department of Labor’s fiduciary rule.
Advisors, political watchers, lawyers as well as fiduciary advocates are on both sides of the fence, with some saying he’ll appoint a new Labor Secretary that will be willing to scrap the existing rule and issue a new “interim rule,” while still others believe Trump will not make DOL’s rule a priority action item during his first 100 days in office.
(http://www.thinkadvisor.com)
Dodd-Frank, fiduciary rule likely to be first targets in expected GOP overhaul
Pensions & Investments; November 14, 2016
As Republicans gain control of the White House, Senate and House of Representatives for the first time in a decade, they face both the opportunity and challenge of turning their agenda into reality.
For President-elect Donald J. Trump, it is an ambitious agenda that includes overhauling the U.S. tax code, dismantling the Dodd-Frank Wall Street Reform and Consumer Protection Act, and halting or undoing other regulations that he says burden businesses, such as the Department of Labor fiduciary rule. He also has pledged to invest heavily in infrastructure and other measures to stimulate economic growth.
Missing from the immediate agenda is retirement.
(http://www.pionline.com)
DOL lawsuits will progress for now
BenefitsPro.com; Nov. 11, 2016
For the time being, proceedings in the lawsuits against the Department of Labor’s fiduciary rule will continue as scheduled, in spite of Donald Trump’s unexpected victory in Tuesday’s presidential election.
This is according to two Employee Retirement Income Security Act experts.
(http://www.benefitspro.com)
The fiduciary rule's future under Trump
BenefitsPro.com; Nov 11, 2016
The prospect of a Donald Trump victory in the presidential election was considered so “farfetched” by industry stakeholders that virtually no one expected this year’s election would affect the fate of the Department of Labor’s fiduciary rule.
“This outcome was not war-gamed,” said Rob Foregger, co-founder of NextCapital, the Chicago-based provider of automated investment platforms for 401(k) and retail investment advisors.
(http://www.benefitspro.com)