H.J.Res. 88
IntroducedDisapproving the rule submitted by the Department of Labor relating to the definition of the term "Fiduciary".
Latest Action
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.
6/22/2016 • House
Summary
(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.)
Passed Senate without amendment • 5/24/2016
Topics & Subjects
Congressional Votes (4)
On passage, the objections of the President to the contrary notwithstanding
June 22, 2016
On Ordering the Previous Question
June 22, 2016
On the Joint Resolution
May 24, 2016
On Passage
April 28, 2016
Related Federal Spending
Sponsor & Cosponsors (31)
Party Breakdown
Sponsor
Cosponsors (30)
Bill Journey
Originated in the House
Introduced
April 19, 2016
Committee Review
April 21, 2016
Floor Debate
April 28, 2016
Passed Chamber
April 28, 2016
Other Chamber
May 24, 2016
President
June 7, 2016
Vetoed
June 8, 2016
Text Versions (5)
Committee Reports (1)
Related Bills (3)
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 relating to defining and delimiting the exemptions for executive, administrative, professional, outside sales, and computer employees.
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 Department of Labor relating to the definition of the term "fiduciary" and the conflict of interest rule with respect to retirement investment advice.
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; providing for consideration of the joint resolution (H.J. Res. 88) disapproving the rule submitted by the Department of Labor relating to the definition of the term "Fiduciary"; and providing for proceedings during the period from May 2, 2016, through May 9, 2016.