Does Swing Pricing Have a Time Zone Problem?
Several House Democrats expressed concern to SEC officials that a hard close at 4 p.m. Eastern time would discriminate against...
Compliance
House Appropriations Bill Would Block Safeguarding and Swing Pricing Proposals, Among Others
The legislation also targets the climate disclosure and market structure proposals.
IAA: SEC’s Pending Adviser Proposals Are Redundant, Inconsistent
A letter from the industry association outlines what it calls overlap and inconsistencies between them.
American Benefits Council: Roth Catch-ups Can’t Be Done in Time
The new mandatory Roth treatment for certain catch-ups introduced by SECURE 2.0 continues to concern retirement professionals.
Anti-ESG Bill Would Require Only Pecuniary Factors to Be Considered
Kentucky Representative Andy Barr introduced a bill aimed at returning investment regulations to a Trump-era standard.
House Reintroduces Bill Calling for Diversity Disclosure
SIFMA supports passage of the bill that would require publicly listed firms to disclose the gender, ethnic and racial composition...
DOL Says to Expect Fiduciary Proposal in August
The new rule would seek to redefine when investment advisers for plans and IRAs are 3(21) fiduciaries.
Pfizer Hit with Excessive Fee 401(k) Complaint
A former employee claims that plan fiduciaries operating the Pfizer 401(k) Savings Plan breached their ERISA duties.
SEC Issues Rare ‘Pre-Emptive’ Warning in Expanded Marketing Rule Risk Alert
The SEC is getting out ahead of potential adviser missteps in following its new client marketing rules—but advisers should still...
Legislation to Expand Accredited Investor Definition Moves to Senate
Two bills seeking to widen the pool of investors who can invest in private equity passed the House last week...
Lifetime Income for Employees Act Would Make It Easier to Use Annuities as QDIAs
The re-introduced House bill would permit annuities as 401(k) default, with a limit of 50% of retirement contributions.
Could Health Care Regulation Go the Way of Retirement Plans?
Regulation from CAA ’21 is pushing employer-sponsored health care programs toward fiduciary rules that will look familiar to retirement plan...
SEC Broadens Adviser Marketing Rule Compliance Exams
The regulator has added three new areas of review to the adviser marketing rule that has been in effect since...
ERIC Highlights Key Areas of Confusion on SECURE 2.0
Roth catch-ups, Roth matches and student loan matches are all high on plan sponsors’ agenda.
SEC Cyber Proposals Receive Mixed Feedback From Industry
Many comments offered tepid support for the SEC’s goal and asked for greater flexibility in reporting and rule harmonization.
State Auto-IRAs Set for Vermont, Nevada, As Pennsylvania Awaits Vote
More states are set to offer state-facilitated retirement plans as the AARP calls for the Pennsylvania state legislature to vote...
Debt Ceiling Suspended Until 2025
President Joe Biden's Saturday signature avoided a June 5 default by the U.S. government.
Pilot Sues American Airlines Due to ESG 401(k) Investing Strategy
The retirement committee, recordkeeper Fidelity Investments and financial advice provider Edelman Financial Engines were accused of sacrificing fiduciary duty to...
Senate Passes Debt Ceiling Bill to Avoid U.S. Default
The bill now moves to President Biden for signature ahead of the June 5 default date.
Senate HELP Committee Urges DOL to Prioritize Certain Secure 2.0 Provisions
The recommended focus areas include emergency savings and defined benefit annual funding notices.