H.J.Res. 88 · 114th Congress
Disapproving the rule submitted by the Department of Labor relating to the definition of the term "Fiduciary".
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30 cosponsors · 30 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Apr 19, 2016
- House Passed Apr 28, 2016 234–183
- Senate Passed May 24, 2016 56–41
- President To the President Jun 7, 2016
- President Vetoed Jun 8, 2016
- House Veto sustained Jun 22, 2016 239–180
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.
What it does: CRS summary · Passed Senate without amendment · May 24, 2016
(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.)
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
Votes to become law
About this bill and sources
Official title: Disapproving the rule submitted by the Department of Labor relating to the definition of the term "Fiduciary".
Latest action (Jun 22, 2016): 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.
Policy area: Labor and Employment · Origin: House · Introduced: Apr 19, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML) · Embed in your story
- House Introduced Apr 19, 2016
- House Passed Apr 28, 2016 234–183
- Senate Passed May 24, 2016 56–41
- President To the President Jun 7, 2016
- President Vetoed Jun 8, 2016
- House Veto sustained Jun 22, 2016 239–180
Final vote · House · Jun 22, 2016
Overriding the President's veto — Failed. Vote details
Speaker of the House: Paul D. Ryan
Table of every position
All recorded votes (4)
- Overriding the President's veto Failed
House · Jun 22, 2016 · “On passage, the objections of the President to the contrary notwithstanding” · Speaker: Paul D. Ryan - Ending debate (previous question) Passed
House · Jun 22, 2016 · “On Ordering the Previous Question” · Speaker: Paul D. Ryan - Passage Joint Resolution Passed
Senate · May 24, 2016 · “On the Joint Resolution H.J.Res. 88” · Majority Leader: Mitch McConnell - Passage Passed
House · Apr 28, 2016 · “On Passage” · Speaker: Paul D. Ryan