Service, im sorry, fidelity, but 50,000 which is i believe relatively small balance all in concert twice and product under 50 basis points. Can i jump in wax i think the best interest contract is simple. Its just a thing make promise to clients youre putting their best interest first, develop policies to make sure your monitor your employees and be accountable if you did not do that. This 400 pages of proposed regulation are proposed regulation. The department did not comport think this is the point and this is what we are doing. They invited extensive on every piece of the regulation and the exemption in the best interest contract. It was remarkable to me when working on this to see a much they dont have in common. Everyone is trying to get people to save more for retirement. The decisions are complicated. Its on us to manage our Retirement Savings. The goal here is for people to come forward from all sides all perspectives until the department how do you make this more workable . How
Major talk of parents, to respect policemen when Police Stopped them. I think it is very necessary for us to talk about parents while we talk about police. [indiscernible] host willy bringing up what we heard from the last couple of viewers, that there is a societal role here as well. If you want to look at more at the Marshall Projects work, you can go to the marshallproject. Org. You can follow them on twitter. Simone weichselbaum is a staff writer for them. Thank you for talking to the viewers about your work. Appreciate your time this morning. Guest thanks for having me. Host that does it for todays washington journal. We are going to bring you now to the Labor Department. They have recently called for new Consumer Protections. Jeffrey science is a keynote speaker today Jeffrey Zients is a keynote speaker today. He will be talking about regulation of retirement Financial Advisors. Live coverage here on cspan. [captions Copyright National cable satellite corp. 2015] [captioning perf
One issue is even if there are no abuses the industry cannot handle having a best interest standard applied to these recommendations. Thats what the dol is doing. Its almost the standard that is applied to broker dealers under the suitability standard. The recommendation must be consistent and you look under the hood and it turns out these are some of the worst violations that you can find. In one case the court said this was egregious misconduct. These are cases if many if not most broker deals. The unsuitable recommendations are accompanied by other Violations Including failure to supervise, churning, misrepresentations or omissions and unauthorized trading. The suitability standard works. Lets not make believe that its actually serving clients best interest. Youve said the current rules support a race to the bottom. Why do you think they support a race to the bottom currently . I think hearing the panelist discuss all the legalese involved here its a well documented fact that its ve
Vote the presiding officer the yeas are 64, the nays are 34, and the nomination is confirmed. Under the previous order, the motion to reconsider is considered made and laid upon the table, and the president will be immediately notified of the senates actions. Mr. Schumer mr. President. The presiding officer the majority leader. Mr. Schumer mr. President , i ask for order, please. The presiding officer the senate will be in order. Mr. Schumer now, in a few moment, the senate will take the first procedural vote on a chips bill that will fight inflation, boost american manufacturing, ease our supply chains, and protect American Security interests. This is one of the important votes that we will take this session, because advancing this bill is crucial for lowering costs, solving our nations chip shortage, and making sure america remains competitive in the 21st century. America will fall behind in so many areas if we dont pass this bill. We could very well lose our ranking as the number on
Around the world, good day to you. It is 4 00 a. M. On the u. S. East coast and the United States is responding to a growing confrontation between israel, iran, and syria. Israel saying that it had the right to defend itself. That nation launched attacks on iranian targets inside syria. Now these attacks follow the crash of an israeli f16 warplane after it was hit by syrian antiaircraft fire on saturday. The downed jet was returning from a raid on what israel says was an iranian command center in syria. Were across the story with our correspondents throughout the region, cnn correspondent Oren Liebermann live in jerusalem and our Senior International correspondent ben wedeman in the lebanese capital of beirut. Lets start with you, oren. First of all, what sort of responses are you hearing about this conflict from the United States regarding its key ally in the region . Well, there were two big responses we were looking for. The first was the u. S. , and the second was russia. The u. S.