An attempt to get Democratic buy-in on legislation that would force the DOL to hold off on finalizing its rule until the SEC acts died on the vine at a House hearing.
Two House subcommittees will hold a joint hearing Thursday focusing in part on a bill written by Rep. Ann Wagner to thwart efforts to raise investment advice standards for retirement accounts.
Compliance could be costly, especially for small advisory firms.
Contributions from investment advisers, however, slow down.
Agency finds a significant number of inappropriate sales.
Custodians are stepping up their game at the same time regulators are putting an emphasis on business continuity and succession
Senators say legislation would act as a deterrent to fraudsters and particularly hamper repeat offenders, whose fines could triple.
Worry heightened reporting requirements in new SEC proposal would force them to divulge 'secret sauce' of separately managed accounts' investment strategies.
The Secretary of Labor told lawmakers on Tuesday that the conversation has shifted to focus on how to make a new standard work.
The four-day event, featuring 75 witnesses from all sides of the debate testifying on panels together, could get heated.
