Jobs report adds to Biden momentum thehill.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehill.com Daily Mail and Mail on Sunday newspapers.
Biden Adds Former Obama Labor Official Harris to White House msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Economy, finance, and budgets
Just as Americans gathered to vote in the 2020 presidential election, Donald Trump’s White House announced that it was finalizing the administration’s effort to pull the United States out of the Paris climate accords. A few days later, before media outlets had even declared him the winner, Joe Biden pledged that, under his administration, America would reenter that agreement.
And so it’s likely to go for the next four years. All modern presidents have used the administrative state and presidential executive orders to pursue their agenda. Biden can do a lot with his pen, and much of what he does will unravel Trump’s own legacy of using executive powers, largely as a deregulator. Biden promises to be a re-regulator, reimposing many of the mandates that the Obama administration originally engineered in areas as diverse as the environment, the workplace, unions, and immigration.
DOL Finalizes Fiduciary Exemption Consistent with Best Interest Standard
Investment professionals can collect payment for a wider range of transactions, so long as they satisfy the reinstated ‘five-part test’ for fiduciaries.
The US Department of Labor (DOL) on Tuesday finalized a fiduciary exemption under the best interest standard, allowing investment advisers to collect payment for a wider range of advice.
The exemption is part of broader regulation for retirement plans under the Employee Retirement Income Security Act (ERISA) that also reinstates the “five-part test” to determine fiduciary status, in line with the best interest standard called Regulation Best Interest (Reg BI) put forth by the Securities and Exchange Commission (SEC), according to the DOL. The regulation is called the “Improving Investment Advice for Workers & Retirees Exemption.”