SEC Suggests Retirement Assets Should Not Count Toward Accredited Investor Threshold
The regulator’s report on the accredited investor definition noted that many only qualify because of their DC plan assets.
Compliance
Clorox Seeks Dismissal of 401(k) Forfeiture Complaint
The company argues in the filing that its fiduciaries followed IRS guidance on how unused retirement assets can be used.
Credit Suisse Fined $10M by SEC for Not Properly Reporting State-Level Infraction
The bank had previously been cited by New Jersey for making misleading statements to investors but did not seek relief...
Treasury Secondary Transaction Rule Finalized by SEC
The rule requires more trades to be centrally cleared and is intended to improve market transparency and liquidity.
Adviser, Planner Communities Give Qualified Support for Fiduciary Proposal
The highly controversial proposal from the DOL has received support from major industry actors, including the CFP Board and FPA,...
Litigation Trends to Watch in 2024: Drop in TDF Suits, More Forfeiture Complaints
Attorneys from Faegre Drinker Biddle & Reath LLP discuss qualified retirement plan litigation trends for the new year.
Fiduciary Rule Proposal Faces 1st Day of Dissent, Advocacy
The DOL’s Retirement Security rule is seen as overbearing by some, necessary by others.
DOL, IRS Announce Spring Regulatory Agendas
The agendas contain important updates on fiduciary corrections and ESOP valuation.
Congress Publishes SECURE 2.0 Corrections Draft Legislation
The bill would correct errors related to catch-ups, RMDs and Starter Plans.
Proposed Bill Would Revoke Pensions for Expelled Congressional Reps
New legislation would disqualify George Santos—and others expelled from Congress—from a pension.
Inspector General Report Calls for Greater EBSA Authority
The report argues that EBSA should have more authority over the Federal Thrift Plan and resources to conduct audits.
NASAA Proposal of Best Adviser Practices Receives Pushback
Critics say the proposal recommended to states goes beyond the SEC’s Reg BI and endangers annuity products and educational materials.
Tyson Foods Employees Allege Excessive 401(k) Plan Fees
The plaintiffs’ complaint included a detailed comparison of allegedly similar, lower-cost recordkeeper fees for the plan with $3.2B in assets.
Report Outlines Policies That Could Support Social Security Bridge
A New School report includes the option of a policy or program that would incentivize collecting Social Security at age...
Shareholder Rights, ESG Rules Begin Friday
The new rule will permit the use of ESG considerations in exercising of shareholder rights.
IRS Part-Time Eligibility Rules Bring Relief, Surprise, Deadline Concern
The vesting rule in the proposal is a focus for industry experts.
Conservative Justices Leaning Against SEC in Administrative Proceeding Case
A ruling against the regulator could limit its ability to bring and win enforcement cases against advisers.
Part-Time Retirement Eligibility Proposal Seeks to Clarify Complex Legislation
The IRS published fiduciary guidance on legislation intended to give more part-time workers access to retirement plans.
Crypto Remains Massive Compliance Risk for Retirement Fiduciaries
Last week, Binance, a crypto exchange, was hit with a record-breaking Treasury settlement.
SEC Charges Against Kraken Identify Specific Tokens as Securities
The complaint is another sign to 401(k) plan fiduciaries to take care with digital asset availability in plans, according to...