In another twist to evolving fiduciary standards in the securities industry, a 2-1 decision of the U.S. Court of Appeals for the 5th Circuit vacated the entire Department of Labor’s “fiduciary rule” last Thursday.  The DOL rule would extend a fiduciary standard to brokers, insurance agents, and anyone else offering “advice” regarding retirement accounts. We’ll […]

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Effective September 5, the Settlement Cycle Changes from T+3 to T+2 Last March, the SEC amended Rule 15c6-1(a) under the Securities Exchange Act of 1934 to shorten the standard securities transaction cycle for most securities transactions from T+3 to T+2. Under the amendment, “T” refers to the day of the transaction and the parties have […]

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As expected, the Department of Labor (DOL) has made official its proposal to delay implementation of its fiduciary rule by 60 days.  The rule was originally slated to become effective on April 10.  However, a President Trump directive to review the rule, with an eye to modify or repeal, led the DOL to propose a […]

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Got an Opinion?  Here’s Your Chance to Be Heard! On Wednesday, March 1, the Department of Labor released a proposed rule that would extend the effective date of the new ERISA Fiduciary Rule by 60 days, delaying implementation of the final rule from the current April 10 compliance date to June 9, 2017. The DOL […]

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Retirement planning is one of the most important and complex financial tasks clients will undertake in their lives. Registered representatives who are educated about all the various retirement options can provide significant assistance to clients. However, reps who work with these investments may now be deemed fiduciaries under new, complex Department of Labor and ERISA […]

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