Amid this year's toxic political climate, the largest retirement bill in more than a decade has nearly unanimous support in both chambers of Congress. But it can't get passed. The Secretary of Labor became collateral damage in the Jeffery Epstein case. His replacement at Labor was the attorney who convinced the Fifth Circuit Court of Appeals to vacate the Obama-era fiduciary rule. The Securities and Exchange Commission took over for Labor and finalized a fiduciary-lite rule for broker dealers in the retail market. SEC Chair Jay Clayton insists Regulation Best Interest will adequately protect investors from unscrupulous sales pitches, while preserving choice by reserving a place at the table for commission compensation. Others complain it will lead to more confusion. Some states are suing to get it scrapped. As another eventful year in the retirement industry comes to a close, there's a good chance at least 1 of the 7 events in the gallery above affected you. READ MORE: |
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
