Legal

A group of 18 Democratic members of the House of Representatives and another group of eight Senate Democrats have written separate letters to Labor Secretary Thomas Perez asking for an extension of the 75-day comment period for the agencys proposed fiduciary rule.

The Illinois Supreme Court rejected the states solution for its worst-in-the-U.S. $111 billion pension- funding shortfall, throwing into doubt how its financial crisis will be resolved.

A bill that convincingly passed through Colorados House of Representatives authorizing up to $12 billion in Pension Obligation Bonds failed to make it out of that states Senate Finance Committee this week.

Investors not only dont know whether their financial advisors are fiduciaries, theyre not even sure what a fiduciary is.

Senators Elizabeth Warren and David Vitter introduced legislation to require the Federal Reserve Board of Governors to publicly record votes on enforcement actions that include $1 million or more in payments.

The Pension Benefit Guaranty Corp. has settled a claim with retired US Airways pilots for $5.25 million.