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June 18th, 2018 at 11:32 pm
CFIF Strongly Opposes Senator Ron Wyden’s “ACCESS to Sound Recordings” Act
Posted by Timothy Lee Print

CFIF has long championed greater fairness for recording artists and protection of intellectual property (IP) rights in the music industry.   Among other problems, current law generally protects recording artists’ rights for post-1972 songs, but not pre-1972 classics:

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Under byzantine laws, artists receive just compensation whenever their post-1972 recordings are played, but in many cases not for their pre-1972 recordings.  That’s an indefensible and arbitrary artifact that has persisted far too long.  Why should Neil Diamond receive payment whenever ‘America’ is played, but not classics like ‘Solitary Man?’

Fortunately, the opportunity to correct that unfairness has arrived.  Even better, legislation to correct the existing flawed system arrives alongside other music legislation that galvanizes the coalition to finally correct the situation.  As a result, a broad coalition of music organizations representing everyone from songwriters, composers, performers, publishers and labels supports three new pieces of legislation…”

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Accordingly, CFIF strongly supports the Music Modernization Act, which passed the House of Representatives unanimously earlier this year:

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Introduced by House Judiciary Committee Chairman Bob Goodlatte (R – Virginia) and Ranking Member Jerrold Nadler (D – New York), the Music Modernization Act combines music licensing reforms outlined in the CLASSICS Act, Songwriters Equity Act of 2015, the rate standard parity provisions of the Fair Play Fair Pay Act, and AMP Act into a single, consensus piece of legislation.  The MMA addresses specific music legacy issues such as establishing federal copyright protection for artists who recorded before 1972, creating a single licensing entity to administer music publishing rights for all digital music and ensuring producers and engineers receive royalties for their contributions to the music they help create.”

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Unfortunately, Senator Ron Wyden (D – Oregon) has counterproductively introduced the so-called “ACCESS to Sound Recordings” Act.

Just as the Music Modernization Act claims nearly unanimous support among all stakeholders in the music industry, Sen. Wyden’s proposed legislation rightfully garners similarly consensus opposition:

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Seven leading unions, membership organizations, and advocacy groups representing recording artists, performers, vocalists, musicians, producers, and songwriters today sent a letter to the U.S. Senate detailing the flaws in Sen. Ron Wyden’s so-called ‘ACCESS to Sound Recordings Act.’  The groups, which include American Federation of Musicians, Content Creators Coalition, Future of Music Coalition, The Living Legends Foundation, the Recording Academy (GRAMMYs Organization), The Rhythm & Blues Foundation, and SAG-AFTRA detailed how Wyden’s bill would undermine the retirement security of elderly artists before reiterating their support for the CLASSICS Act.”

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The group’s letter, which is worth reading in its entirety of detail, highlights the flaws of Sen. Wyden’s proposal:

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We are disappointed that the introduction of the ‘ACCESS Act’ was done without consulting any artist group, organization, or union who would have made it clear that the bill’s eleventh-hour introduction is not a viable solution.  The ‘ACCESS Act’ would undercut the goals of the MMA by cutting compensation for the older artists that it is expressly designed to benefit.  It would unfairly shorten the period in which pre-1972 recordings produce royalties for the artists and copyright owners, effectively shutting down a lifeline of payments to artists who need it most.”

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There is simply no justification for Sen. Wyden’s proposed legislation.  The MMA received unanimous House support, which is incredible in this hyperpartisan era, and the Senate should pass it for President Trump’s signature at long last.

June 14th, 2018 at 3:33 pm
President Trump’s Prescription Drug Reforms Already Showing Progress
Posted by Timothy Lee Print
It’s been just one month since President Trump unveiled his American Patients First plan to reduce drug prices and, despite the naysayers, we’re already seeing results.

This week, U.S. Department of Health and Human Services Secretary Alex Azar appeared before the Senate Health, Education, Labor and Pensions (HELP) Committee to provide detail on the progress that has already occurred.  His testimony extended over two hours, and Sec. Azar answered tough questions from both Democrats and Republicans, reiterating some key parts of the President’s plan.  Among other important testimony, he highlighted the transparency failures of Pharmacy Benefit Managers (PBMs) and stressed the need to increase competition throughout the market to bring prices down.

That stands to reason, since President Trump’s plan pays special attention to PBMs – “middlemen” that operate in the opaque prescription drug pipeline – who negotiate with insurers, drug manufacturers and pharmacists to bring drugs to market.  As Senator Susan Collins (R-ME) pointed out in the hearing, the way in which PBMs earn profits creates an “incentive for higher list prices,” further driving up the price of prescriptions throughout the industry.

Accordingly, President Trump’s plan deliberately opens up this opaque system, providing greater information to all parties to stop what Sec. Azar characterized as the “perverse” incentives in the system.  By removing the ability for PBMs to profit from price increases, the President’s plan allows the natural downward pressures of the market to take hold, eliminating another driver of cost that consumers feel at the pharmacy counter.  Secretary Azar described the blueprint as a “comprehensive tackling and restructuring of the drug channel, nothing short of that,” further evidence of the President’s bold commitment to this issue.

Senator Collins continued to highlight PBM abuses, explaining how PBMs often employ “gag clauses” that prevent pharmacists from helping consumers to find the best price for their medication.  Those clauses are widely used to help PBMs maximize their profits, but the Trump Administration has already taken action to ensure that contracts with CMS cannot employ gag clauses.

Secretary Azar also explained how the President’s plan will bring greater competition to Medicare Part B, modeled on the success of the Part D program.  Currently, the federal government purchases drugs for Part B at the list price, costing the program billions in extra costs.  In contrast, Medicare Part D allows private companies to negotiate and manage plans to keep costs low.

Secretary Azar further explained to Sen. Michael Bennet (D-CO) that President Trump’s plan proposes greater negotiation between private-sector actors to help lower costs down across the program.  Nevertheless, Sec. Azar cautioned that, due to the size and complexity of the program, the President’s plan purposefully remains open on that issue, so that the Administration can work with Congress and other stakeholders to ensure that these competitive reforms are implemented without harming existing enrollees.

Those actions, along with an overall increase in transparency in the marketplace for all parties to bring more information and competition, are already at work.  President Trump’s plan works because it finally addresses the real drivers of cost, and removes the barriers that are stopping free market forces from bringing costs down.  On that basis, Sec. Azar’s testimony shows us that we are finally on the right path to bring prices down.

June 13th, 2018 at 3:59 pm
Let the AT&T/Time Warner Ruling Be a Lesson Against Needless Federal Market Interference
Posted by Timothy Lee Print

Hopefully this will serve as a deterrent lesson to the U.S. Department of Justice, and the federal government more generally.

Yesterday, Federal Judge Richard Leon delivered his decision rejecting the Justice Department’s misguided lawsuit to prevent AT&T and Time Warner from merging.  The government had no business even bringing the suit, as the merger poses no threat of consumer harm.  To the contrary, as noted in today’s Wall Street Journal by Michael D. Smith and Rahul Telang, it promises more choices and greater market competition for American consumers.  Because the merger was “vertical” in nature, rather than a “horizontal” merger of direct market competitors, federal bureaucrats would only inflict harm by delaying or denying its fruition:

[T]he unique characteristics of digital markets have allowed a small number of internet giants – among them Amazon, Google, Netflix and Facebook – to dominate their industries and forestall entry by competitors.  These companies have put serious money into customer connections, data analytics and back-end systems, and these investments scale very well.  Netflix has penetrated more than half of U.S households.  Google and Facebook control almost three-quarters of online advertising.  Amazon does nearly half of all online retail sales.  These are astonishing numbers.

Now that these tech giants have established their downstream power in the distribution business, they are beginning to amass upstream power by getting into the content-creation business…  Given the dominance of Silicon Valley’s internet giants, it makes no sense to prevent AT&T and Time Warner from merging.  These companies aren’t trying to join forces because they want to take control of a dying industry;  they want to be allowed to compete in a new one.”

The American economy has accelerated since President Trump’s election as a consequence of his deregulatory and tax-cutting agenda, and that same logic should apply to the realm of market mergers between mutually bargaining parties.

As one example, Comcast recently announced a bid for certain assets of 21st Century Fox.  In the same way as described above regarding the AT&T/Time Warner merger, Comcast’s acquisition would greatly benefit consumers.  The film and television businesses have never been more competitive, dynamic or creatively rich, and consumers possess more entertainment choices than ever before.  Free markets work, and federal bureaucrats have zero business interfering in this matter.

As Judge Leon noted in his decision, federal government decisions to interfere come at great cost:

The government has had this merger on hold now since October of 2016 when it launched its investigation.  In that 18-plus month period, the companies have twice extended the break-up date to accommodate the government’s litigation of this case.  During that same period, the video programming and distribution industry has continued to evolve at a breakneck pace.  The cost to the defendants and the government to investigate, litigate and try this case has undoubtedly been staggering – easily in the tens of millions of dollars.”

That same logic applies to Comcast’s proposed acquisition.  Let’s not be forced to repeat yesterday’s harsh lesson to the Justice Department, after needless waste of time and taxpayer resources in meritless litigation that only serves to harm American consumers and competitive marketplaces.

June 11th, 2018 at 3:02 pm
This Week’s “Your Turn” Radio Lineup
Posted by Timothy Lee Print

Join CFIF Corporate Counsel and Senior Vice President Renee Giachino today from 4:00 p.m. CDT to 6:00 p.m. CDT (that’s 5:00 p.m. to 7:00 p.m. EDT) on Northwest Florida’s 1330 AM WEBY, as she hosts her radio show, “Your Turn: Meeting Nonsense with Commonsense.” Today’s guest lineup includes:

4:00 CDT/5:00 pm EDT:  Karen Kerrigan, President and CEO of the Small Business & Entrepreneurship Council – Sugar Subsidies;

4:15 CDT/5:15 pm EDT:  Ilya Shapiro, Senior Fellow in Constitutional Studies and Editor-in-Chief, Cato Supreme Court Review – SCOTUS Update;

4:30 CDT/5:30 pm EDT:  Marc Scribner, Senior Fellow at the Competitive Enterprise Institute – Driverless Vehicles;

4:45 CDT/5:45 pm EDT:  Richard Sander, UCLA Professor and Economist - Moving Toward Integration;

5:00 CDT/6:00 pm EDT:  Bruce Herschensohn, American Political Commentator, Author and Senior Fellow at the Pepperdine University School of Public Policy – Singapore Summit;

5:30 CDT/6:30 pm EDT:  Andrew M. Grossman, Partner at Baker & Hostetler – Unappointed Judges; and

5:45 CDT/6:45 pm EDT:   Timothy Lee, CFIF’s Senior Vice President of Legal and Public Affairs – U.S. Competitiveness Ranking and Arbitration.

Listen live on the Internet here. Call in to share your comments or ask questions of today’s guests at (850) 623-1330.

June 11th, 2018 at 12:40 pm
Image of the Day: Available Jobs Outnumber Unemployed for First Time Ever
Posted by Timothy Lee Print

In our latest Liberty Update, we note how the U.S. has quickly reclaimed its position as the world’s most competitive economy under President Trump after slipping under Barack Obama.  This image vividly illustrates one point we highlight – that for the first time ever, the number of job openings exceeds the number of unemployed Americans in the workforce to fill them:

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Jobs, Jobs, Jobs

Jobs, Jobs, Jobs

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June 4th, 2018 at 12:42 pm
Image of the Day: Trump Is Destroying America, Cont’d
Posted by Timothy Lee Print

Donald Trump’s presidency continues to destroy America, as the political left warned:

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Consumer Confidence Soars

Consumer Confidence Soars

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May 31st, 2018 at 12:13 pm
Image of the Day: Paul Krugman’s Timeless Faceplant from 1998
Posted by Timothy Lee Print

Paul Krugman, the political left’s favorite economist, claims quite a record for faceplant predictions.  Readers will recall his prediction on election night in November 2016 that markets would “never” recover from the ensuing crash that Donald Trump’s upset victory would trigger.

Here’s another timeless Krugman gem from 1998:

The Lefts Favorite Economist

The Left's Favorite Economist

May 29th, 2018 at 1:08 pm
This Week’s “Your Turn” Radio Lineup
Posted by Timothy Lee Print

Join CFIF Corporate Counsel and Senior Vice President Renee Giachino today from 4:00 p.m. CDT to 6:00 p.m. CDT (that’s 5:00 p.m. to 7:00 p.m. EDT) on Northwest Florida’s 1330 AM WEBY, as she hosts her radio show, “Your Turn: Meeting Nonsense with Commonsense.”  Today’s guest lineup includes:

4:00 CDT/5:00 pm EDT:  Steve Bucci, Visiting Fellow, Douglas and Sarah Allison Center for Foreign and National Security Policy at The Heritage Foundation – Better School Security;

4:15 CDT/5:15 pm EDT:  Nicholas Eberstadt, Henry Wendt Chair in Political Economy at the American Enterprise Institute – North Korea;

4:30 CDT/5:30 pm EDT:  Michelle Minton, Senior Fellow at the Competitive Enterprise Institute – Sports Gambling;

4:45 CDT/5:45 pm EDT:  Michael Cannon, Cato Institute’s Director of Health Policy Studies – The Fate of ObamaCare;

5:00 CDT/6:00 pm EDT:  Commissioners Brecht Heuchan and Fred Karlinsky, Florida Constitution Revision Commission – Proposed Constitutional Provisions; and

5:30 CDT/6:30 pm EDT:  William J. Conti, Partner at Baker & Hostetler – NFL Anthem Policy, John McCain, Recent Primaries and more.

Listen live on the Internet here. Call in to share your comments or ask questions of today’s guests at (850) 623-1330.

May 25th, 2018 at 8:50 am
Stephen Moore: Trade Deals Must Protect Intellectual Property Rights
Posted by Timothy Lee Print

CFIF recently highlighted the importance of strengthening intellectual property rights as part of ongoing trade negotiations in a piece entitled “Intellectual Property:  NAFTA Renegotiation Priority #1.” Days later, Senator Pat Toomey (R – Pennsylvania) echoed that call in his Wall Street Journal commentary.

This week, celebrated economist Stephen Moore added his voice in a brilliant commentary entitled “Trade Deals Must Protect Intellectual Property Rights”:

American investments, ingenuity and entrepreneurship have made intellectual property one of our nation’s most important assets.  IP-intensive industries, including software, biotechnology and entertainment, now support nearly one-third of all U.S. jobs.  But too often, our foreign trading partners take unfair advantage of our IP innovations to enrich themselves at our expense.”

Moore proceeds to highlight the pharmaceutical sector as one particularly abused by foreign governments, and notes the enormous cost of IP theft to the U.S. economy by nations like China, then stresses the ominous danger if we fail to act:

Intellectual property is every bit as vital to our economy – if not more so – than steel or aluminum.    America leads the world in computer software;  drugs;  artificial intelligence;  patents;  trademarks;  and music, entertainment and other creative industries.  But how long can that last when competitor nations are ripping off our entrepreneurial companies to the tune of half a trillion dollars a year?”

It’s an excellent piece worth the read, and a welcome call from someone to whom the White House listens.

May 18th, 2018 at 12:06 pm
Image of the Day: What Obama FCC Internet Regulation Did to U.S. Broadband Investment
Posted by Timothy Lee Print

Inexplicably, the U.S. Senate this week narrowly moved to restore 2015 Obama Administration Federal Communications Commission (FCC) crony capitalist internet regulations.  Here’s the effect that Obama FCC regulation immediately had on mobile broadband investment.  It’s now the duty of the House of Representatives and the Trump Administration to kill this mindless Obama-era attempt to regulate the internet, and we encourage everyone to contact their Representatives and the White House to demand that action.

Neutering the Net

Neutering the Net

May 14th, 2018 at 1:16 pm
This Week’s “Your Turn” Radio Lineup
Posted by Timothy Lee Print

Join CFIF Corporate Counsel and Senior Vice President Renee Giachino today from 4:00 p.m. CDT to 6:00 p.m. CDT (that’s 5:00 p.m. to 7:00 p.m. EDT) on Northwest Florida’s 1330 AM WEBY, as she hosts her radio show, “Your Turn: Meeting Nonsense with Commonsense.” Today’s guest lineup includes:

4:00 CDT/5:00 pm EDT:  Jonathan Williams, Chief Economist and Vice President, Center for State Fiscal Reform at the American Legislative Exchange Council - Rich States, Poor States;

4:15 CDT/5:15 pm EDT:  Pete Sepp, President of National Taxpayers Union – Unemployment Report;

4:30 CDT/5:30 pm EDT:  Phil Kerpen, President of American Commitment – New NAFTA;

4:45 CDT/5:45 pm EDT:  Karen Kerrigan, President and CEO of the Small Business & Entrepreneurship Council – Sugar Subsidies;

5:00 CDT/6:00 pm EDT:   Fred Lucas, White House Correspondent at the Daily Signal at The Heritage Foundation – Judicial Nominees and Schneiderman;

5:15 CDT/6:15 pm EDT:  Richard Samp, Chief Counsel, Washington Legal Foundation – Drug Innovators and Liability; and

5:30 CDT/6:30 pm EDT:  Timothy Lee, CFIF’s Senior Vice President of Legal and Public Affairs – Intellectual Property and More.

Listen live on the Internet here. Call in to share your comments or ask questions of today’s guests at (850) 623-1330.

May 11th, 2018 at 1:03 pm
Sen. Pat Toomey in WSJ: Strengthen IP Rules During NAFTA Renegotiation
Posted by Timothy Lee Print

In this week’s Liberty Update, we emphasize how intellectual property (IP) protection should be priority number one for the Trump Administration as it renegotiates the North American Free Trade Agreement (NAFTA) this month.

In that vein, we’re pleased to see Senator Pat Toomey (R – Pennsylvania) echo that point in his commentary in today’s Wall Street Journal:

[T]he administration can accept the advice from many members of Congress and others to modernize Nafta in ways that expand trade opportunities without curtailing American consumers’ freedom…  Nafta’s pre-internet intellectual property rules could be strengthened.”

Well said, and hopefully the message resonates within the Trump Administration to continue its remarkable recent string of economic and international successes.

May 8th, 2018 at 9:27 am
Image of the Day: Jerusalem Street Signs Now Announce U.S. Embassy
Posted by Timothy Lee Print

Something that should’ve happened long ago, but that all Americans should be grateful to have been accomplished in swift order by President Trump – new street signs pointing to U.S. embassy in Jerusalem:

At Long Last - U.S. Embassy to Jerusalem

At Long Last - U.S. Embassy to Jerusalem

May 4th, 2018 at 1:25 pm
Holman Jenkins on the Return to FCC Sanity Under Chairman Ajit Pai
Posted by Timothy Lee Print

From the always-insightful Holman Jenkins of The Wall Street Journal in his latest “Business World” commentary:

Mr. Pai, chairman of the Federal Communications Commission, cares about good policy.  That hasn’t been the rule for years.  During the Obama era, tech and telecom policy were driven by White House interest in whipping up millennials and exploiting public hostility to cable providers.”

April 30th, 2018 at 10:12 am
Image of the Day: A Jobs Boom
Posted by Timothy Lee Print

It’s almost as if the wave of deregulation and tax cuts had some sort of impact.  The Congressional Budget Office (CBO), no refuge of supply-side enthusiasts, just boosted its job growth estimate by 2.6 from last year’s estimate:

Deregulation and Tax Cuts:  Jet Fuel For Jobs

Deregulation and Tax Cuts: Jet Fuel For Jobs

April 22nd, 2018 at 10:35 pm
Image of the Day: Another Blown Climate Alarmist Prediction
Posted by Timothy Lee Print

From our friends at AEI in honor of Earth Day, another “inconvenient fact” refuting hysterical climate alarmist claims:

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Another Inconvenient Fact

Another Inconvenient Fact

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April 18th, 2018 at 9:52 am
Image of the Day: Job Growth Estimate Boosted
Posted by Timothy Lee Print

So after just one year of tax-cutting and deregulation under the Trump Administration, the Congressional Budget Office (CBO) has revised its estimate of job growth over the next decade upward by over 2.5 million new jobs.  As they say in the legal field, “res ipsa loquitur” – “the fact speaks for itself.”

Upward Job Growth Estimate

Upward Job Growth Estimate

April 11th, 2018 at 5:17 pm
Great News: Comprehensive Music Reform Legislation Introduced in Congress
Posted by Timothy Lee Print

CFIF steadfastly supports America’s world-leading tradition of strong intellectual property rights, which have made us the most creative, inventive and prosperous nation in human history.

That includes the music industry, which stands unrivaled in terms of worldwide influence and fecundity, but which we’ve noted merits attention from Congress:

Under byzantine laws, artists receive just compensation whenever their post-1972 recordings are played, but in many cases not for their pre-1972 recordings.  That’s an indefensible and arbitrary artifact that has persisted far too long.  Why should Neil Diamond receive payment whenever ‘America’ is played, but not classics like ‘Solitary Man?’

Fortunately, the opportunity to correct that unfairness has arrived.  Even better, legislation to correct the existing flawed system arrives alongside other music legislation that galvanizes the coalition to finally correct the situation.  As a result, a broad coalition of music organizations representing everyone from songwriters, composers, performers, publishers and labels support three new pieces of legislation…”

Well, this week offers very welcome news.

The Music Modernization Act (H.R. 5447) has been introduced in Congress, as cogently summarized by the musicFIRST Coalition:

Introduced by House Judiciary Committee Chairman Bob Goodlatte (R – VA) and Ranking Member Jerrold Nadler (D – NY), the Music Modernization Act combines music licensing reforms outlined in the CLASSICS Act, Songwriters Equity Act of 2015, the rate standard parity provisions of the Fair Play Fair Pay Act, and AMP Act into a single, consensus piece of legislation.  The MMA addresses specific music legacy issues such as establishing federal copyright protection for artists who recorded before 1972, creating a single licensing entity to administer music publishing rights for all digital music and ensuring producers and engineers receive royalties for their contributions to the music they help create.

The consensus legislation introduced today in the House would not have been possible without the leadership from Chairman Goodlatte, Ranking Member Nadler, Rep. Doug Collins (R – GA), Rep. Darrell Issa (R- CA), Rep. Hakeem Jeffries (D – NY) and other leaders from both parties who worked together to craft legislation that is broadly supported by the entire music industry, streaming services and music creators.”

This legislation is long overdue.  CFIF therefore applauds the Committee for its unanimous support, and urges swift passage by the House to finally rectify the existing unfairness in the nation’s music laws.

April 9th, 2018 at 9:21 am
Image of the Day: More Trump Bump, Which They Said Couldn’t Be Done
Posted by Timothy Lee Print

During the Obama years, when we endured the worst cyclical economic “recovery” in recorded U.S. history, we were told that the 3% economic growth to which we’d become accustomed since measurement began was a thing of the past, and that “secular stagnation” was the order of the future.  Well, in just the first year of the Trump presidency, a funny thing happened:

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Three Percent Miraculously Returns

Three Percent Miraculously Returns

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March 29th, 2018 at 10:30 am
Court Reverses Another Obama Administration Regulatory Abuse
Posted by Timothy Lee Print

Bit by bit, Obama Administration regulatory abuses are being dismantled by the executive, legislative and judiciary branches.  This month, the Fifth Circuit Court of Appeals overturned one of the worst.

The Dodd-Frank Act, which itself made matters worse rather than better in the wake of the government-fueled financial downturn of 2008, explicitly empowered the Securities and Exchange Commission (SEC) as the agency to formulate rules relating to investment advisers who offer “personalized investment advice about securities to a retail customer.”  The statute also explicitly prevented the prohibition of commission-based compensation.

But as was too often the case, a rogue federal agency under Obama felt unconstrained by mere laws and norms of conduct.  Specifically, Labor Department Tom Perez decided to dictate the exact opposite:

Mr. Perez essentially rewrote the 1974 Employee Retirement Income Security Act (ERISA), which regulates employer- and union-sponsored plans differently from individual retirement accounts.  For instance, individuals are allowed to sue fiduciaries of employer and union plans for charging a commission.  Labor applied the more rigorous protections for employer and union plans to IRAs.  Mr. Perez also extended Erisa’s definition of ‘investment advice fiduciaries,’ who provide advice ‘on a regular basis,’ to broker-dealers and financial-insurance agents who merely  sell a product.”

The Fifth Circuit Court of Appeals, however, was unamused and eviscerated Mr. Perez’s lawless maneuver.  Judge Edith Jones, one of the most reliably impressive judges in the entire judiciary branch, wrote for the majority that, “Transforming sales pitches into the recommendations of a trusted adviser mixes apples and oranges.”  She added that this created an impossible dilemma to navigate, as, “Thousands of brokers and insurance agents who deal with IRA investors must either forgo commission based transactions and move to fees for account management or accept the burdensome regulations and heightened lawsuit exposure required by the [best interest contract exemption] contract provisions.”

The inescapable consequence of such a rule raised costs for small investors most of all, who would’ve faced no alternative to what The Wall Street Journal labels “robo-advice.”  Indeed, several investment firms had already stopped offering services in those parts of the retirement investment marketplace.

There’s still much work to do in reversing eight years of Obama Administration malfeasance, including at the Internal Revenue Service (IRS), as we have constantly emphasized.  But the good news is that the job is underway, as this latest appellate court ruling illustrates.