Ms. Wissel is a partner in Davis Polk’s Corporate Department, practicing in the Executive Compensation Group. [Full Bio]

Last week, the U.S. Court of Appeals for the Fifth Circuit, in a 2-1 decision, vacated the DOL fiduciary rule in its entirety.  The lawsuit was brought by the U.S. Chamber of Commerce, SIFMA and a number of other business groups to challenge the validity of the fiduciary rule, … Read More

As expected, the DOL has officially delayed the applicability date of the full requirements of the Best Interest Contract (BIC) Exemption, Principal Transactions Exemption and PTE 84-24 by 18 months, from January 1, 2018 to July 1, 2019.  Our post from earlier this year described which requirements of these exemptions … Read More

On September 21, 201, the SEC issued guidance to assist companies in their efforts to comply with the pay ratio disclosure requirement mandated by the Dodd-Frank Act. Overall, the guidance should come as a relief to many companies.

Read the Full Memo »Read More

As a follow-up to our prior post, the OMB has approved the DOL’s proposal to delay the full applicability date of the exemptions related to the fiduciary rule and shortly thereafter the DOL has issued a proposed rule that would further delay the applicability date of the currently-delayed requirements … Read More

Last Thursday evening, the DOL issued a Request for Information (RFI) on the fiduciary rule and related exemptions.  While financial institutions and other service providers to retirement investors have been living under the fiduciary rule since June 9, many of them still take comfort in the fact that the more … Read More

The DOL’s proposal, published today, seeks to delay the applicability date of the fiduciary rule for 60 days and solicits comments on the rule’s impact on the financial services industry. In effect, starting today, the DOL will be running two parallel rulemaking processes: one expedited process to finalize … Read More

Yesterday afternoon, President Trump issued a memorandum directing the DOL to review the fiduciary rule it released last April that expanded the definition of an investment advice fiduciary with respect to retirement investors. The fiduciary rule became effective on June 7, 2016, but the requirements under the rule would not … Read More

With President-elect Donald Trump’s transition underway, speculation has been rife as to the impact of his Administration and a Republican-controlled Congress on a variety of issues, including executive compensation.  While one might assume that all of the recent executive compensation rules mandated by the Dodd-Frank Act, such as the pay … Read More