Correction, Please!
Ruinous Rule by Regulations
ITEM: The New York Times for April 6, 2016, reported: “The rules governing how financial professionals handle the trillions of dollars they invest on behalf of Americans saving for retirement are about to get a lot tougher.”
The U.S. Labor Department, went on the Times, “after years of battling Wall Street and the insurance industry, issued new regulations on Wednesday that will require financial advisers and brokers handling individual retirement and 401(k) accounts to act in the best interests of their clients. The government move is expected to encourage a shift of retirement funds into lower-cost investments — potentially saving billions of dollars for many ordinary investors — while setting off one of the biggest upheavals in the financial services industry in decades.”
ITEM: The Hill (Washington, D.C.) for May 4, 2016, noted that the Social Security Administration “is proposing to report people who receive disability benefits and have a mental health condition to the FBI’s background check system. The proposal, which stems from a memorandum that President Obama issued in 2013, would essentially block some people with severe mental health problems from buying guns.”
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