March 3, 2015
Last week, President Obama called on the Department of Labor to “update the rules and requirements that retirement advisors put the best interests of their clients above their own financial interests.” At a speech at the American Association of Retired Persons, the president proclaimed, “You want to give financial advice, you’ve got to put your client’s interests first. “
Yet, if the regulation the DOL is set to introduce at the president’s behest is anything like the “fiduciary” rule it proposed in 2010—and withdrew upon a groundswell of protest the next year—the government’s definition of “best interest” will likely not be in the best interest of individuals who wish to pursue alternative assets from gold to peer-to-peer loans to crowdfunding in their IRAs.
The last time...
March 3, 2015Public-sector workers could soon gain the freedom to decide whether or not to pay union dues if the U.S. Supreme Court hears the impending case, Friedrichs v. California Teachers Association.
March 2, 2015
The FCC, inspired by a law passed in 1934, unveiled its controversial plan to regulate the Internet as a public utility. Beyond that it was a week like any other, with new regulations covering everything from biomass crops to walk-in freezers.
On to the data:
- Last week, 65 new final regulations were published in the Federal Register, after 40 new regulations the previous week.
- That’s the equivalent of a new regulation every two hours and 28 minutes.
- So far in 2015, 416 final regulations have been published in the Federal Register. At that pace, there will be a total of 2,667 new regulations this year, which would be roughly 1,000 fewer rules than the usual total.
- Last week, 1,715 new pages were added to the Federal Register, after 1,118 pages the previous week.
- Currently at 11,068 pages, the...
March 2, 2015
Recently, I wrote about a report to the Senate by a task force of college presidents, on how the Education Department is illegally dumping an avalanche of new rules and regulations on America’s schools, without even complying with the Administrative Procedure Act’s notice-and-comment requirements.
Yet another example of such mischief is the 2014 sexual harassment guidance issued by the Education Department’s Office for Civil Rights. That...
March 1, 2015
On March 4, the Supreme Court will hear oral argument in King v. Burwell, which challenges an IRS regulation imposed under the Affordable Care Act, better known as Obamacare. The regulation violates the law and illegally provides subsidies on both state and federally-established health insurance exchanges after more than 30 states chose to stay out of the program. Here’s what you need to know:
1. The plaintiffs in King v. Burwell represent millions of Americans harmed by Obamacare, including those who lost their health plans, doctors or jobs, and those whom the law forces to pay higher insurance premiums and taxes.