The U.S. District Court for the Southern District of New York held that certain syndicated loans sold to institutional investors are not "securities" and rejected claims of violations of federal and state securities laws.
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The DOL issued a "temporary enforcement policy" related to a recently proposed 60-day extension of the fiduciary rule applicability date.
The Department of Labor proposed a 60-day delay of the applicability date of the Fiduciary Duty Rule.
U.S. District Court for the Northern District of Texas Dallas Division Chief Judge Barbara M.G. Lynn denied a motion for summary judgment by the Chamber of Commerce, et. al. to challenge and vacate the heightened fiduciary standards mandated by the DOL fiduciary rule.
Senator Elizabeth Warren (D-MA) urged Acting Labor Secretary Edward Hugler to allow the DOL's Fiduciary Rule to become effective as currently scheduled on April 10, 2017.