BREAKING NEWS: DOL Looking to Delay Fiduciary Rule for Another 18 Months
BSMG
Fiduciary,
DOL,
Department of Labor
No Comments
9 Aug 2017
BREAKING NEWS 8/9/17: The Department of Labor announced today that they are seeking to delay the fiduciary rule until July 2019. "In a brief filed in a Minnesota lawsuit Wednesday, the DOL indicated it had submitted to the Office of Management and Budget a proposal to delay the rule from Jan. 1, 2018, until July 1, 2019. The OMB must review and approve the proposal before it can go into effect." - InvestmentNews
Read MoreToday is the Day - The DOL Ruling
BSMG
Fiduciary,
DOL
No Comments
9 Jun 2017
BREAKING NEWS: DOL Fiduciary Rule Not To Be Delayed Further
BSMG
Fiduciary,
DOL,
Department of Labor
No Comments
23 May 2017
BREAKING NEWS 5/22/17: Yesterday, the new Labor Secretary announced in the Wall Street Journal, that he will not delay the DOL Fiduciary Rule further. He did, however, announce a temporary enforcement action that will delay the enforcement of the rule until January 1st , 2018. This means that firms will have temporary relief through January to finalize their plans.
Read MoreBREAKING NEWS: House Committee Approves Possible DOL Repeal
BSMG
Fiduciary,
DOL,
Financial Advisors
No Comments
5 May 2017
BREAKING NEWS 5/4/17: Yesterday, the House Financial Service Committee voted to approve the Financial Choice Act 2.0. The Act includes a repeal of the DOL Fiduciary Rule, which is set to be implemented on June 9th. The vote was 34-26 along party lines and came after three days of considering amendments from opposing Democrat members of the House Financial Service Committee. This is a revision of the previous Financial CHOICE Act by House Financial Service Committee chairman JebHensarling (R-Texas) last year. The full House could vote as early as next week.
Read MoreBREAKING NEWS: DOL Delays Fiduciary Rule Implementation to June 9th
BSMG
Fiduciary,
Department of Labor
No Comments
5 Apr 2017
BREAKING NEWS UPDATE 4/5/17: The Department of Labor released a final rule Tuesday delaying the implementation of its fiduciary duty regulation. Under this measure the rule's April 10th applicability date has been pushed back to June 9th. This postponement means that the expanded definition of fiduciary as well as the impartial conduct standards will become applicable on June 9th. Written disclosure requirements and the full best-interest contract exemption are still scheduled for Jan. 1st, 2018, implementation. To find out more read the full InvestmentNews article.
Read MoreThe DOL Fiduciary Rule: 3 Key Issues
BSMG
Fiduciary,
DOL,
Financial Advisors,
Department of Labor
No Comments
30 Mar 2017
Breaking news came from the Department of Labor (DOL) yesterday, as they sent the final Fiduciary Rule to the Office of Management and Budget (OMB), requesting a 60-day delay. The Rule has not been published in a Unified Agenda and is pending regulatory review. All eyes are on the OMB right now as the effective date of the Fiduciary Rule grows closer to the applicability date set for April 10th.
Read MoreOn Demand Webinar: An Overview & Discussion of the DOL Fiduciary Regulations as they relate to Life Sales
BSMG
Fiduciary,
DOL,
Department of Labor
No Comments
5 Aug 2016
In a continued effort to keep you informed on the recent DOL ruling, Brokers' Service Marketing Group recently hosted this webinar with AIG's Deidra Hubenak.
Read MoreWill Indexed Annuity Sales Fall Because of the DOL Ruling?
BSMG
Annuities,
Fiduciary,
DOL,
Fixed Index Annuities,
Department of Labor
No Comments
4 Aug 2016
We've heard a lot about the DOL's recent fiduciary ruling over the last few months. In fact, we just hosted a webinar on how this ruling will affect the life insurance industry and the sale of life insurance products (check back for a recording later this week). So what about annuities? How will annuity sales be affected by the DOL's strict ruling? InvestmentNews recently published an article that projects indexed annuity sales will fall 30% due to the ruling. Read below to find out why.
Read MoreThe DOL's Strong Stance on Conflict of Interest
BSMG
Fiduciary,
DOL
No Comments
4 Aug 2016
This blog post has been very popular so we wanted to share it again in case anyone missed it!
The DOL fiduciary rule is a big topic in our industry because it will affect financial advisor liability and compensation when advising clients on IRA’s. Like anything else the rule has its pro’s and cons. Our belief is that it will do more harm than good for the below reasons. There are several lawsuits in play already to stop, delay or change the rule.
Top 5 Q&As about the Impact of the DOL Fiduciary Regulations on the Life Insurance Industry
Deidra Hubenak
Fiduciary,
DOL,
Department of Labor
No Comments
26 Jul 2016
Many financial professionals have one thing in common when it comes to the subject of the DOL Fiduciary Regulations: They have a lot of questions. In this post, I’ve highlighted the questions I hear most frequently, as well as the answers.
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