President Barack Obama will veto a House resolution designed to kill a Labor Department rule to raise investment-advice standards for retirement accounts, the White House said Wednesday.
Thomas Perez gets high marks for guiding the fiduciary rule through the regulatory shoals, but supporters question whether he gave away too much.</br><b><i>(More coverage: <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">Everything you need to know on the DOL fiduciary rule</a>)</b></i>
Analyst tells advisers that the Republican frontrunner is the second-best presidential campaigner he's ever seen run, trumped only by this president.
Congress members tell Obama such an executive order would help some of the nearly half of U.S. workers who don't have access to a retirement program on the job.
The insurance and brokerage industries have shelled out many more dollars for congressional campaigns and lobbying than investment adviser organizations.
But without enough votes to overturn a threatened presidential veto, assistant secretary of Labor Phyllis Borzi calls the action 'the usual Washington Kabuki theater.'
The financial industry generally has not barked about the final fiduciary rule, but that doesn't mean that it won't eventually bite.
Experts say the complexity of retirement income planning can set human advisers apart and justify their fees.
The first installment of InvestmentNews' new <i>Fiduciary Focus</i> column looks inside the political wrangling taking place as the fiduciary rule nears finalization.
Based on comment letters and testimony before Congress, a court challenge will probably focus on who brokers really answer to
