DCIIA Publishes Guide to Fiduciary Models
The report educates plan sponsors on distinctions between 3(16), 3(21) and 3(38) fiduciaries.
Compliance
Senate HELP Committee Advances Su’s Nomination on Partisan Lines
No floor vote has been scheduled for the confirmation of the acting Secretary of Labor, who faces Republican opposition.
Proposed Bill Would Allow CITs in 403(b) Plans
403(b) plan advisers may have their patience rewarded with a potential bill to allow CITs is on the table.
Execution Quality Disclosure, Tick-Size SEC Proposals Enjoy Industry Support
Mandatory auctions and Reg BE are considerably less popular.
SEC Updates Guidance on Adviser Investment Obligations
The latest guidance adds teeth to initial Regulation Best Interest, passed in 2019.
Acting Labor Secretary Su Says SECURE 2.0 Guidance Coming in “Timely Manner”
Committee to consider Su's confirmation to replace Marty Walsh, who left the DOL in February.
At House Committee, SEC Swing Pricing Proposal Comes Under Fire
Gensler defended the SEC’s recent proposals on subjects such as climate disclosure and swing pricing.
Betterment Pays SEC $9M for Misstatements Regarding Tax Loss Harvesting
The digital advice and IRA provider agreed to pay the fines without admitting or denying wrongdoing.
Commenters Urge SEC to Implement Market Proposals Sequentially
The growing chorus of caution now includes the Department of Justice.
Proposed Bill Would Tie $150 Million RIA Registration Threshold to Inflation
The Small Business Investor Capital Access Act, introduced this week, would increase the registration exemption from $150 million by tying...
Gensler to Testify at House Oversight Hearing Next Week
Items such as the SEC’s market structure and cybersecurity proposals are likely targets for questioning, as is the SEC’s climate...
SEC Makes Important Investment Company Act Exemption
Allowing one tech company to avoid registering as investment company could be the first step toward a permanent rule.
Latest Decision in Hughes v. Northwestern Opens Door to More ERISA Litigation
In reviewing a 2022 case remanded by the Supreme Court, the 7th Circuit Court of Appeals allowed two of the...
Recent Proposals to Reform Social Security
The options to reform Social Security will have to become more dramatic the longer Congress waits.
What is MarylandSaves, and What Does it Do?
MarylandSaves, the state’s new auto-IRA program, has an unusual backstory and some unique features that could serve as a model...
Coca-Cola Settles ERISA Lawsuit Against MEP
The plan has agreed to a $3.3 million settlement for a complaint alleging it failed to drop an overpriced fund.
Financial Planning Standards Board Updates Global Standards
Updates focus on growing collaboration between planners and clients.
SECURE 2.0’s Disappointments
SECURE 2.0 has a number of issues with it such as its budget myopia and failure to expand access adequately.
AARP, US Chamber Comment on IRS Proposal on Remote Notarization
Thursday was the final day to submit comments on the December 2022 IRS proposal to allow remote notarization for many...
DISH Network Retirement Plan Survives Legal Challenge
The plan had been challenged for excessive fees and underperformance under ERISA, but a federal judge dismissed the complaint.