Texas Federal Judge Stays DOL Fiduciary Rule: PLANADVISER reports that a federal judge in eastern Texas has stayed the Department of Labor’s Retirement

Security (Fiduciary) Rule ahead of its Sept. 23 effective date.

Second Texas Federal Judge Broadens DOL Fiduciary Stay: ThinkAdvisor reports that the U.S. District Court for the Northern District of Texas has issued the second decision to halt the Sept. 23 implementation date for the DOL’s new fiduciary rule, stopping the entire DOL rule plus the associated prohibited

transaction exemption rules.

NAV REITs Continue to Outperform Traded REITs: The DI Wire reports that the Stanger NAV REIT Total Return Index saw a modest gain of 0.3% in the second quarter of 2024. Net asset value real estate investment trusts continue to show strong overall performance over the past five years with an annualized return of

7.9%, more than double that of traded REITs.

DOL Considering Fiduciary Rule Options: The American Society of Pension Professionals & Actuaries reports that with two recent court decisions putting a halt to the DOL’s final investment advice fiduciary rule, the department is currently holding internal discussions to determine next steps, a senior official said on July

30.

Senate Dooms Tax Bill Passed by the House: The Wall Street Journal reports that the Senate voted today not to consider a tax bill which previously had passed

the House with bipartisan support.

Stop-Gap Funding Bill Needed in September: Politico reports that lawmakers will need to turn their focus toward passing a short-term continuing resolution by Oct. 1 in order to prevent a government shutdown, and there are festering divisions within

the House GOP over how to do that upon their Sept. 9 return.

Trump Promises to Fire SEC’s Gensler on Day One: ThinkAdvisor reports that Donald Trump said he would fire Securities and Exchange Commission chair Gary Gensler and pick crypto-friendly regulators if he returns to the White

House.

House GOP Probes ESG Use by Financial Firms: Pensions & Investments reports that Republican leaders of the House Judiciary Committee sent letters to more than 130 companies and pension funds demanding answers on how they

engage in environmental, social and governance investing.