Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:The Department of Labor is Making a Big Announcement Today Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, April 14, 2015

The Department of Labor is Making a Big Announcement Today

Reported by Neil Anderson, Managing Editor

A major 401(k) regulator is about to make a big announcement, one that might be a big deal for broker-dealers and their advisors who are in the retirement plan or IRA rollover businesses.

This morning the Department of Labor (DoL) invited reporters to a press conference call, scheduled for 2pm and including Secretary of Labor Thomas Perez himself, "to announce a consumer protection proposal." The invitation provides no further hints as to what the proposal might be, yet Megan Leonhardt of WealthManagement.com reports that the Office of Management and Budget (OMB) "is expected to publicly release [the DoL's fiduciary redefinition regulation] as early as Tuesday," i.e. today.

The DoL last proposed a version of this regulation back in 2010, only to withdraw it and go back to the drawing board. The DoL has been keeping its latest fiduciary redefinition attempt under wraps, and this time the White House itself has gotten involved. Much of the fight this time is about companies and advisors that work with IRAs and 401(k) rollovers IRAs, not just those who work with 401(k)s directly.

The DoL is embargoing the contents of the 2pm press call to 3pm, so if this is the fiduciary redefinition, expect to start hearing a lot more starting at 3:01pm. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use