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Congressional Action on Proposed DOL Fiduciary Rule Postponed to 2016
Morgan LewisLink to more items from this source
Dec. 24, 2015

"Although several possible approaches were actively discussed, Congress ultimately did not pass any legislation in 2015. But these approaches remain open for 2016.... The Roskam-Neal bill ... would establish a 'best interest' standard for investment advice rendered to qualified retirement plans and IRAs ... and would adopt several elements of the DOL proposal but with a number of modifications. The Roe-Larson bill ... would make largely parallel changes to ERISA. Both bills would prohibit the DOL from amending the current fiduciary investment advice definition unless Congress specifically approves such a DOL rule within a specified time period."

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