Compliance January 19th, 2024 Oxford Survey Finds DOL May Have Underestimated Compliance Cost of Fiduciary Proposal New rollover disclosure needs would contribute to a majority of the cost, according to the survey commissioned by financial industry...
Compliance January 19th, 2024 Concerns About Scope 3 Disclosure Continue to Haunt SEC Climate Disclosure Proposal A House subcommittee hearing resulted in significant opposition from agricultural interests.
Compliance January 18th, 2024 DOL Brings Clarity to Newly Available Emergency Savings Accounts The FAQ guidance builds on earlier IRS directives, with a focus on investments and fee structures.
Compliance January 16th, 2024 SEC Imposes $18M Fine on JP Morgan for Whistleblower Violations According to the regulator’s order, the company’s securities division required clients to sign non-disclosure agreements barring them from reporting potential...
Compliance January 12th, 2024 ASA Calls on Congress to Name DOL Employees Involved With Fiduciary Proposal The American Securities Association asked Congress in a letter to identify DOL staff involved in the fiduciary proposal and to...
Compliance January 12th, 2024 IRS Addresses Emergency Savings Accounts, Calls for Comment The notice calls for stakeholders to recommend appropriate enforcement actions to prevent the gaming of employer matches on ESAs.
Compliance January 10th, 2024 Bitcoin and Brokerage Windows: A Risk for Fiduciaries? The DOL has not yet commented on cryptocurrency investments in the wake of the SEC’s approval of bitcoin exchange-traded products.
Compliance January 10th, 2024 1st House Hearing on Fiduciary Proposal Falls Along Partisan Lines Congress weighs in on the controversial proposal for the first time, with Republicans often against and many Democrats in support.
Compliance January 9th, 2024 DOL Finalizes New Independent Contractor Rule The rule is expected to make it harder for workers to be classified as independent contractors, an issue for some...
Compliance January 9th, 2024 Biden Re-Nominates Julie Su as Secretary of Labor Although the nomination made it out of committee in March 2023, it has not been brought to a vote of...
Compliance January 9th, 2024 FINRA Annual Report Highlights Crypto, Cybersecurity, Reg BI The industry regulator provided areas of focus for the year ahead to member firms.
Compliance January 9th, 2024 401(k) Litigation Continues At ‘Fever Pitch’ Euclid Fiduciary’s litigation summary shows a dip in lawsuits in 2023, but signs of an uptick this year.
Compliance January 8th, 2024 50 House Reps Push Back On DOL Fiduciary Proposal Bipartisan group urges DOL to ‘withdraw and cease efforts’ to move ahead with retirement security rule targeting annuities and one-time...
Compliance January 5th, 2024 How SECURE 2.0’s Automatic Features Apply to MEPs, PEPs The IRS provided clarification about ‘grandfathered’ plans, and the DOL announced Form 5500 updates that include Schedule DCG.
Compliance January 4th, 2024 New Form 5500 Released The new form contains modifications for both SECURE Acts.
Compliance January 3rd, 2024 Fiduciary Proposal Comment Period Ends With More Mixed Feedback The IAA and Morningstar offered conditional support to the Department of Labor’s proposal and the ACLI called for a full...
Compliance December 29th, 2023 American Securities Association Says DOL Acting Secretary Cannot Finalize Fiduciary Proposal The trade organization challenged the DOL’s proposal on several grounds, including that an acting cabinet secretary cannot finalize a rule.
Compliance December 28th, 2023 IRS Notice Clarifies SECURE 2.0 Automatic Enrollment, Tax Credits, Other Features The grab-bag notice also provided guidance on de minimis incentives, distributions for the terminally ill and Roth matching.
Compliance December 22nd, 2023 IRS 2023 Changes List for Pre-Approved Plans Is Out The list contains many SECURE 2.0 provisions, but includes amendments stemming from other laws as well.
Compliance December 22nd, 2023 SECURE 2.0 Provisions Advisers Need to Know in 2024 Groom Law Group, Chartered, compares current retirement provisions with new ones that take effect in 2024.