bank 2

Court delays arguments on challenge to Labor fiduciary rule

The US Court of Appeals for the District of Columbia Circuit has delayed oral arguments in a lawsuit brought by the National Association for Fixed Annuities challenging the Labor Department's fiduciary rule. The court granted the postponement to wait for a decision by the US Court of Appeals for the…

Read More

ebusiness

SEC official discusses agency’s plans for protecting small investors

A Securities and Exchange Commission official provided more details on the aims of its newly formed Retail Strategy Task Force, whose broad intention is to increase protection of Main Street investors. Lara Shalov Mehraban, an associate regional director for enforcement at the SEC, said the task force will focus on…

Read More

office building

Sen. Hatch to offer amendment cutting tax incentives for 401(k) contributions

Sen. Orrin Hatch, R-Utah, chairman of the Senate Finance Committee, will introduce an amendment eliminating the current tax treatment for pretax 401(k) catch-up contributions. The amendment will raise the catch-up limit for people 50 and older but will tax the contributions when they are made and will classify them as…

Read More

long-term-care-insurance

Advisors rethink how to comply with Labor fiduciary rule

Retirement advisors are taking a second look at measures to comply with the Labor Department's fiduciary rule now that the department is moving to postpone enforcement of parts of the rule. Many advisors welcome the extra time, but others worry about the lack of direction and what will end up…

Read More

building coulumn

Fed leaves rates unchanged, signals likely rise in Dec.

The Federal Reserve maintained its current interest rate but offered an optimistic view of the US economy that could lay the groundwork for a widely anticipated rate increase in December. The central bank's rate-setting committee said its preferred benchmark for inflation "remained soft" but the labor market is getting stronger…

Read More

abstract business

Hurricanes likely to delay Fed rate increase

Although economic losses from natural disasters are typically recovered because rebuilding stimulates growth, the timing of hurricanes Harvey and Irma likely will affect the Federal Reserve's plan to increase interest rates in December. US GDP growth is expected to be reduced in the third quarter because of Harvey, Barclays economists…

Read More

island

Labor Dept. aims to postpone fiduciary rule’s compliance deadline

The Labor Department has filed with the Office of Management and Budget to delay by 18 months the January deadline for full compliance with the department's fiduciary rule. The OMB has 90 days to review the proposal. Investment Advisor

Read More

abstract business

Yellen: Risks that caused financial crisis remain

  The US financial system is safer than it was before the financial crisis but this is no time to become complacent about protecting the system's stability, Federal Reserve Chair Janet Yellen said at the central bank's annual conference in Jackson Hole, Wyo. She warned of "the all-too-familiar risks of…

Read More

green percent

Interest rates will rise as populations age, report says

Aging populations, especially in Europe and Asia, will contribute to an increase in interest rates, researchers Charles Goodhart and Manoj Pradhan say in a new report. The research contrasts with the widespread expectation that aging populations will moderate growth and cause rates to fall. Bloomberg

Read More

building coulumn

Lawyer: Fiduciary-rule announcement likely soon

Fred Reish, a partner in Drinker Biddle & Reath's employee benefits and executive compensation practice, said he expects the Labor Department to say this month or in the first half of September whether it plans to delay full effectiveness of its fiduciary rule beyond Jan. 1. Reish said he expects…

Read More