IRS Provides Interim Guidance for EPCRS Changes
SECURE 2.0 laid out changes to IRS correction programs, but the May guidance clarifies how they will operate until the...
Compliance
Senate Mulling Debt Ceiling Bill After House Passage
The House bill, passed Wednesday, would suspend the debt ceiling until 2025.
Democrats Trade Budget Cuts for Debt Ceiling Extension
The House is scheduled to vote on the proposal Wednesday before passing it to the Senate.
FINRA Fines Vanguard for Overstating Money Market Projections
A ‘technical’ issue led to overstated projections of yield and income for nine money market funds for about 8.5 million...
Gensler Defends Swing Pricing Proposal at ICI Conference
Managers who asked the Fed for help during the pandemic but who oppose swing pricing should “look in the mirror,”...
Court Dismisses O’Reilly Auto Excessive Fee Lawsuit
A district court judge dismissed a case brought by six former employees claiming the auto parts company allowed 401(k) participants to...
CITs: Coming Soon to 403(b) Plans?
A bill approved by the House Committee on Financial Services would permit CITs in all 403(b) plans to bring parity...
Congress Says It Will Fix at Least 4 Errors in SECURE 2.0
The errors include the startup credit, RMD, SIMPLE IRA plans and Roth catch-ups.
Retirement Clearinghouse Issues Alert of IRA Data Breach
Firm alerts more than 10,000 people to watch out for identify theft after Social Security and IRA numbers may have...
EBRI Study: Inflation, Weak Stock Market Slashed Retirement Confidence
EBRI reports sharply decreased retirement confidence, driven primarily by inflation.
SEC’s Gensler Confirms AI is Regulatory Priority
Chairman Gary Gensler said at a conference that he has directed the SEC to explore the regulatory implications of AI...
SEC’s New Stock Buyback Rules Come Under Legal Challenge
The Chamber of Commerce has sued the SEC in the 5th Circuit and seeks a review of a new SEC...
Inflation Drives IRS to Raise HSA Contribution Limits
For 2024, the HSA contribution will be $4,150 for an individual and $8,300 for a family, up from $3,850 for...
Common Pitfalls in Reg BE, BI, According to FINRA, SEC
Riskier and complicated assets require more due diligence, and regulatory officials laid out some practices for advisers to avoid.
NAGDCA: Roth Catch-Ups Will Be Major Issue for Government Plans
This is the second time in three months the advocacy group has warned federal regulators and appealed for assistance.
SEC Head Gensler Says Reg BI Not ‘Check the Box’ Exercise
The SEC chairman made remarks about Reg BI, Reg BE and about AI’s role in the markets at FINRA’s annual...
ASA: DOL Drops Appeal to 401(k) Rollover Advice Ruling
According to the trade association, the regulator will not appeal a ruling that keeps 401(k) rollover advice outside of fiduciary...
DOL to Extend UBS, Credit Suisse 401(k) Asset Management Exemption
The DOL proposes extending for one year beyond their merger the exemptions being used by UBS and Credit Suisse to...
FINRA Expels Brokerage SW Financial for Misrepresenting Fees
The brokerage and investment bank was expelled for misrepresenting its fee structure, churning accounts and failing to properly supervise and...
House Republicans Propose Exempting Social Security Benefits From Income Tax
Social Security reform bills keep coming this Congress, and this one would remove Social Security payments from the calculation of...