The American Council of Life Insurers, et.al., filed a complaint against the Department of Labor seeking declaratory and injunctive relief to prevent the implementation of the fiduciary rule.
News & Insights
SIFMA and numerous financial associations filed a complaint against the Department of Labor with the U.S. District Court for the Northern District of Texas. The complaint would strike down an "overreaching" DOL fiduciary rule.
The NAPF issued its comments in response to the Basel Committee on Banking Supervision ("BCBS") and the International Organization of Securities Commissions' ("IOSCO") requests for comment as to the amount and handling of margin to be posted as part of OTC derivatives trades. The key points asserted by NAPF are as follows: Pension schemes use derivatives largely to hedge liabilities and, thereby, reduce risk. Extra costs or processes that provide a disincentive for pension schemes to use derivatives could in fact increase the degree of risk in the markets. The new margin requirements would