The Department of Labor held a two-day hearing last week to gather input on its new proposed fiduciary rule, according to ThinkAdvisor. The proposal is called the Retirement Security Rule: Definition of an Investment Advice Fiduciary. It would update the definition of...
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Labor Department will not extend public comment period on new fiduciary rule
The 60-day public comment period for feedback on the U.S. Department of Labor's new fiduciary rule is not going to be extended, Wealth Management reports. The department's proposed rule would update the definition of an investment advice fiduciary under the Employee...
SEC Chair Gensler warns of potential risks of AI in financial industry
The Chair of the Securities and Exchange Commission addressed the opportunities and risks presented by the growth of artificial intelligence during an exclusive interview with MarketWatch recently. Gensler discussed the potential ramifications of AI technology for the...
Department of Labor proposes rule to update definition of investment advice fiduciary
The U.S. Department of Labor announced last week that it has proposed a new rule aimed at protecting retirement investors, according to AdvisorHub. The rule would update the definition of an investment advice fiduciary under the Employee Retirement Income Security...
SEC proposal involving use of artificial intelligence draws opposition
The Securities and Exchange Commission's proposal regarding the use of artificial intelligence is running into opposition from some financial industry trade groups, reports Financial Advisor. In July, the SEC proposed new rules that would require broker-dealers and...