The Treasury Department has proposed new rules that could limit strategies that wealthy individuals and families use to avoid having their estates hits with a 40% death tax rate. So reports The Washington Post.
A group of industry organizations has filed litigation seeking to kill the Department of Labor’s fiduciary rule after efforts by the House of Representatives last month fell short of accomplishing the same goal. So reports CNBC.
In a recent report to Congress, Securities and Exchange Commission Investor Advocate Rick Fleming says enhancing service providers’ fee disclosures will be a priority for fiscal year 2017. So reports MarketWatch.
The Securities and Exchange Commission is unlikely to adopt a uniform fiduciary standard prior to the end of the Obama presidency. In the meantime, the regulator will observe the Department of Labor’s fiduciary rule, says SEC Chief Mary Jo White. So reports ThinkAdvisor.
In the aftermath of a BrokerCheck study that concluded 1 in 13 advisors have tainted histories, Senator Elizabeth Warren (D-Mass.) is asking the Financial Industry Regulatory Authority to disclose plans for curtailing broker misconduct. So reports ThinkAdvisor.