House Passes Financial Exploitation Prevention Act to Safeguard Seniors from Fraud
The bill would permit open-ended investment companies and transfer agents to delay redemption of securities if they suspect financial exploitation...
Compliance
SEC Cites Broker/Dealers for Not Meeting Reg BI Standards
The SEC issued a warning after finding issues, including advisers not properly disclosing conflicts of interest or maintaining written policies.
Republican States Challenge DOL ESG Rule in Court
A 2022 DOL rule clarifying that ESG strategy can be used in fiduciary decisions was challenged by 25 states in...
SECURE 2.0 Makes a Few Changes to Annuities
While not the focus of the bill, annuities gained increased flexibility and availability.
States’ Suit Could Delay DOL Rule on ESG Investing
Rule to permit ESG considerations is due to take effect on Monday, but a federal lawsuit aims to derail it.
SEC Proposal Would Restrict Conflicted Asset-Backed Securities
The proposal seeks to implement a provision in the Dodd-Frank financial reform law and would prevent asset-backed security issuers from...
SECURE 2.0 Error Threatens Catch-Up Contributions, but Meaning Is Clear
A mistake in SECURE 2.0 legislation would eliminate both future and existing retirement plan catch-up contributions, though IRS interpretation to...
FINRA Head to Leave After More Than 2 Years in Role
Jessica Hopper, head of the influential securities regulator for the brokerage industry, is stepping down in February, with Christopher Kelly...
Allianz Asset Management 401(k) Participants Allege Self-Dealing
Two participants in the Allianz 401(k) plan allege the asset manager maintained an all-proprietary fund lineup that included expensive, underperforming...
Regulatory and Statutory Changes Coming to Self-Corrections Programs
Plans will find more room to correct their own mistakes under SECURE 2.0 and a DOL proposed rule change.
Small Businesses and SECURE 2.0: Exemptions and Tax Credits
SECURE 2.0 offers tax credits to create plans, as well as to join existing PEPs and MEPs.
DOL Contractor Rule Threatened by 20% Adviser Quit Rate
An FSI survey shows independent advisers would retire before being classified as employee as the DOL mulls tens of thousands...
Sports Agency Owner Charged for Allegedly Stealing Retirement Assets
The Houston-based sports agent was served a civil suit by the Department of Labor for allegedly dipping into employee retirement...
ERISA Suit Against Deloitte Dismissed
The lawsuit alleged that Deloitte’s 401(k) plan fees were excessive compared to similar plans.
529s and ABLE Accounts Both Get a Boost from SECURE 2.0
The changes make it possible to roll over 529s into Roth IRAs and easier to qualify for an ABLE account.
Age-Specific Changes Found in SECURE 2.0
SECURE increases the RMD age and expands the amount of catch-up contributions certain participants can make.
DOL to Consult Industry on How To “Facilitate” PEP Uptake
Among items on DOL/EBSA's agenda: speaking with retirement plan service providers, employers and employees on what regulators can do to...
IRS: Remote Notarization, a Pandemic Development, May Stay
The rule would codify relief from ‘physical presence’ rules for retirement plan elections that was first granted during the height...
How SECURE 2.0 Will Affect New Plan Creation
The two main provisions affecting new plan creation are required automatic features and more generous tax credits.
FTC’s Noncompete Ban Would Hit Retirement, RIA Consolidation
A proposed ban on noncompete contracts by the FTC would likely have implications for the RIA firms some retirement advisories...