easyt65
Diamond Member
- Aug 4, 2015
- 90,307
- 61,150
- 2,645
Court Kills Obama Oversight Of Retirees’ Savings Plans
"The Fifth Circuit Court of Appeals killed an Obama-era regulation mandating federal oversight of the relationship between retirement account advisers and their clients.
The court voted 2-1 March 15 to throw out the Department of Labor’s Fiduciary Rule, ruling the regulation was “an arbitrary and capricious exercise of administrative power.” The case could possibly go on to the Supreme Court, according to Investopedia.
The now-vacated law favored large scale investors by encouraging fee-based services over commission based, the court said, according to The Washington Free Beacon."
Buh-bye......
"The Fifth Circuit Court of Appeals killed an Obama-era regulation mandating federal oversight of the relationship between retirement account advisers and their clients.
The court voted 2-1 March 15 to throw out the Department of Labor’s Fiduciary Rule, ruling the regulation was “an arbitrary and capricious exercise of administrative power.” The case could possibly go on to the Supreme Court, according to Investopedia.
The now-vacated law favored large scale investors by encouraging fee-based services over commission based, the court said, according to The Washington Free Beacon."
Buh-bye......
