House Republicans and Democrats are requesting that the Department of Labor significantly narrow its definition of fiduciary in a rule the agency is currently drafting that would impact the sale of retirement products.

Three financial services industry trade groups are signaling to the Department of Labor they will fight tooth-and-nail to sustain the exemption of the sale of retirement investment products from a fiduciary standard.

The National Association of Insurance Commissioners (NAIC) is being asked to explain the legal reasoning behind its decision to describe itself as a standard-setting organization rather than a trade group.

A provision in Senate legislation that had investment advisors up in arms because it would reduce the value of inherited IRAs has been removed.

Obama administration officials never improperly interfered with the deliberations regarding standards it recommended for implementing the healthcare reform law, the National Association of Insurance Commissioners (NAIC) said in response to a congressional inquiry.

The National Association of Insurance Commissioners request for an exemption from the medical loss ratio provisions of the healthcare reform law for insurance agents has been rejected.

The National Association of Insurance Commissioners has delayed until Nov. 22 a vote on a contentious resolution that would have asked the Department of Health and Human Services to unilaterally use its authority to exempt agent health commissions from the medical loss ratio, rather than waiting for Congress to act.

Congressional Republicans are demanding that the Obama administration clarify what it is doing about implementation or non-implementation of the Community Living Assistance Services and Supports (CLASS) Act long term care (LTC) insurance program.