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.
Representative Josh Gottheimer (D-NJ) introduced a bill that would establish a "Senior Investor Taskforce" within the SEC to protect senior investors from fraud.
At a hearing before the House Financial Services Subcommittee on Capital Markets, Securities, and Investment, several industry groups called for repeal of the DOL Fiduciary Rule and expressed support for a proposed "standards of conduct" bill.
The House Financial Services Committee approved the Financial CHOICE Act, a Republican plan that would replace the Dodd-Frank Act.