H.J.Res. 88 passed both chambers and was vetoed on Jun 8, 2016
Disapproving the rule submitted by the Department of Labor relating to the definition of the term "Fiduciary".
Written by the Congressional Research Service [2]. 132 words.
(This measure has not been amended since it was introduced. The summary of that version is repeated here.) This joint resolution disapproves and nullifies a Department of Labor rule published on April 8, 2016, relating to the definition of the term "fiduciary" and the conflict of interest rule with respect to retirement investment advice. (The rule defines who is a fiduciary with respect to pension and retirement plans. Under current law, a person who provides investment advice has a fiduciary obligation that requires the person to provide advice in the sole interest of plan participants and beneficiaries. The rule changes the definition of "investment advice" to treat people who provide investment advice to pension and retirement plans for a fee or other compensation as fiduciaries in a wider array of advice relationships.)
- Committees
- House Education and the Workforce Committee
House Ways and Means Committee - Policy area
- Labor and Employment: 17 of 2,258 bills became law, 113th–118th (0.8%)
- Sponsor
- 7 of 90 bills enacted since 2013
- Text versions
- 5, from enrolled bill to placed on calendar senate · 43 words
- Subjects
- Administrative law and regulatory proceduresCongressional oversightDepartment of LaborEmployee benefits and pensionsFinancial services and investments
- Latest action
- Jun 22, 2016: Motion to refer the bill and accompanying veto message to the Committee on Education and the Workforce. The Chair directed the Clerk to notify the Senate of the action of the House.
- Records
- Congress.gov · Bill text
Each bill appears once, under its strongest link. 3 in all.
Procedural (rules, motions) · 1
- 114th H.Res. 706 Providing for consideration of the bill (H.R. 4901) to reauthorize the Scholarships for Opportunity and Results Act, and for other purposes; R · Agreed to
Related, per CRS or House · 2
- 114th H.J.Res. 95 Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor rel R · Introduced
- 114th S.J.Res. 33 A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Depa R · Introduced