Showing 4 posts by David S. Nows.
The United States Department of Labor (the "DOL") published a request for comment in the Federal Register on July 6 with respect to its often discussed fiduciary rule (the "Fiduciary Rule"). This time, the DOL hopes to clarify uncertainty moving forward, as the Fiduciary Rule and its related prohibited transaction exemptions (the "PTEs") became partially effective on June 9, 2017, and will be fully implemented on January 1, 2018. However, recent events have brought the wisdom of a January 1, 2018 applicability date into question. Read More ›
How does the "Hire American" portion of the "Buy American, Hire American" Executive Order impact H-1B visa applicants and start-up businesses?
Much ado has been made about the Trump administration's stance on immigration issues. Throughout the 2016 campaign and into the first months of the new presidency, immigration has been a hot-button issue that has consistently garnered media attention. Last month, the administration took one of its first major swings at immigration reform in putting into effect an Executive Order titled "Buy American and Hire American" (the "Executive Order.") The "Hire American" portion of this Executive Order focuses on the H-1B visa program, a program that is used to give skilled foreign workers a temporary visa, granting them work authorization to utilize their skills in the United States. This blog post will analyze the impact of the proposed reforms, and in particular, the impact of those reforms on startup businesses. Read More ›
Shortly after our first article on the DOL Fiduciary Rule the White House issued an Executive Order that requires the Department of Labor (the "DOL") to revisit the Fiduciary Rule (the "Fiduciary Rule" or the "Rule") and the Prohibited Transaction Exemptions (the "PTEs") that were amended alongside it. President Trump's Executive Order requires the DOL to determine if the rule will adversely affect retirement investors or financial firms. If the answer is yes, the expectation is that the Fiduciary Rule and the related PTEs will not survive as currently written, and the DOL will rescind or revise the Rule. Read More ›
With a sea of political change in Washington this year, many are speculating on what regulatory reforms the Trump administration and a Republican Congress will make in 2017. One reform in particular is commonly mentioned: a repeal, delay, or revision of the new Department of Labor ("DOL") fiduciary rule (the "Fiduciary Rule"). Given that the Trump administration is widely seen as anti-regulation, and the Fiduciary Rule is one of the most sweeping pieces of regulation regarding retirement investors and the financial industry since the implementation of the Employee Retirement Income Security Act ("ERISA") in 1974, speculation about the Fiduciary Rule's impending review and revision are not unfounded. Read More ›
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