Muni watchers see the best chance for robust infrastructure investment in years bondbuyer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bondbuyer.com Daily Mail and Mail on Sunday newspapers.
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Congressional rumblings about outlawing mandatory arbitration clauses are relatively common, but they have not been successful. Ever since a hard-won battle in the 1980s, the industry has been calling the shots about where investors could plead their case and the predictable efforts to change that have gone nowhere.
This time around, things may be a little different.
Start with the fact that a wave of populist voters earned President Biden both the House and the Senate. Now he’s crisscrossing the country, stumping for his three trillion-dollar infrastructure plan, arguing that a guaranteed tax hike for individuals and corporations is the best way to get that done. So with all of this happening, no one should be surprised by the ascendance of the Investors Choice Act, which would not only ban future mandatory arbitration clauses but void the ones already in existence.
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Gary Gensler, former chair of the Commodity Futures Trading Commission, was confirmed by the US Senate as chair of the Securities and Exchange Commission. A warm congratulations to Gary Gensler on his Senate confirmation to become Chair of the SEC. He will be joining a dedicated staff that works tirelessly day in and day out on behalf of investors and our markets. 1/2 SEC News (@SEC News) April 14, 2021
My colleague, Jasmin Sethi, has some thoughts for the new SEC Commissioner. https://t.co/6dzRwaYuBf Aron Szapiro (@AronSzapiro) April 14, 2021
Morningstar said: “In 2020, the SEC took steps to advance both investor choice and investor protection. Now, the new SEC chair will have to determine if the former has gone too far in hindering the latter.”
Consumer Advocates Call on Biden to Delay DOL s Fiduciary Rule The Labor Department s final rule creating an exemption for fiduciaries on certain prohibited transactions under ERISA will go into effect after the start of the new administration.
Industry advocacy groups praised the Department of Labor’s newly finalized rule creating an exemption for fiduciaries from certain prohibited transactions under ERISA, while critics ranging from consumer protection advocates to Democratic senators and congressmen urged President-elect Joe Biden to keep the rule from ever taking effect.
The rule, which essentially reinstated the 1975 “five-part test” to determine whether an investment recommendation to a client in a retirement account would be covered by ERISA s fiduciary mandate, was
No new Libor contracts suggested as New Year s resolution by N Y Fed official bondbuyer.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bondbuyer.com Daily Mail and Mail on Sunday newspapers.