States moving toward best-interest standards for insurance agents

Proposals to impose best-interest standards on insurance agents could be taken up by as many as 14 states. “There’s a narrative that we have to fix something but there’s no evidence that there’s something that needs fixing,” AssessBEST CEO Kim O’Brien said. InsuranceNewsNet Magazine online

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Best interest standards on tap for 2019

Both the Securities and Exchange Commission and Department of Labor have included best interest standards on their agenda for fall 2019. The Labor Department is working on a revised fiduciary rule, and the SEC is in the process of reviewing comment letters and other feedback on Regulation Best Interest, including…

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Fed holds rates but sticks with plan for gradual hikes

The Federal Reserve still plans to gradually increase interest rates but has left them unchanged at a meeting this week. The central bank says the US economy remains healthy but notes a downturn in growth of business investment. Reuters

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Fed minutes point to June rate increase

Minutes of the Federal Reserve’s May meeting suggest interest rates are likely to increase in June. “Most participants judged that if incoming information broadly confirmed their current economic outlook, it would likely soon be appropriate … to take another step in removing policy accommodation,” according to the minutes. Reuters

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Fed likely to keep rates steady, but increases likely later in the year

The Federal Reserve is expected to leave rates unchanged at this week’s meeting, but more rate hikes are likely later in the year. Steady economic growth and rising inflation have many economists predicting three more rate increases this year. The Associated Press

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Fed proceeds with expected interest rate hike

The Federal Reserve on Wednesday raised its key interest rate to a range between 1.5% and 1.75%, an increase of a quarter of a percentage point, in its first meeting under Chairman Jerome Powell. The rate-setting committee responded to a stronger economic outlook by signaling a brisker rate of increases…

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Labor suspends fiduciary-rule enforcement “pending further review”

After the US Court of Appeals for the 5th Circuit vacated the Labor Department's fiduciary rule, the department said will it not enforce the rule "pending further review." A department spokesman declined to comment. Pensions & Investments (free access for SmartBrief readers)

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NASAA president: States can enforce Labor fiduciary rule

State securities regulators have authority to enforce the Labor Department's fiduciary rule, and exercising that authority is "part of the normal scope of what states ought to be doing to protect their citizens," said Joseph Borg, director of the Alabama Securities Commission and president of the North American Securities Administrators…

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Commentary: Advisors can expect raft of new regulations

Despite the Trump administration's anti-regulatory stance, individual agencies are developing plans to introduce a raft of regulations that will affect advisors in the year ahead, writes columnist Mark Schoeff Jr. He runs through the list of regulations advisors should expect. InvestmentNews (tiered subscription model)

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Expert: States moving forward on insurance regulation

President Donald Trump's agenda of rolling back regulations is having little influence on state insurance regulators, who are "moving ahead pretty aggressively on everything," said Howard Mills of Deloitte. Among the major issues for state regulators are consumer protection, cybersecurity and the use of big data, Mills said. InsuranceNewsNet online

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