SEC Commissioner Michael S. Piwowar criticized the Fiduciary Rule in a comment letter submitted to the Department of Labor.
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The U.S. Department of Labor submitted a proposal to the Office of Management and Budget to delay the applicability of several important provisions of the Fiduciary Rule.
A three-judge panel of the Fifth Circuit Court of Appeals issued a ruling vacating the Department of Labor fiduciary rule.
The Department of Labor provided guidance on responsibilities for plan fiduciaries and other stakeholders regarding shareholder rights, written statements of investment policy, and economically targeted investments.
The DOL issued a temporary enforcement policy applicable to investment advice fiduciaries in light of a Fifth Circuit decision to vacate the fiduciary rule.