Wait, SECURE 2.0 Might Not Pass?
The legislative package may be running out of time, suggested Senator Ben Cardin at the EBRI Retirement Summit.
Compliance
DOL Extends Comment Period for Independent Contractor Rule
The proposed rule could affect thousands of independent financial advisers who prefer to be classified as independent contractors, rather than...
Advisers Should Comment, Prepare Vendor List Ahead of SEC Outsourcing Rule
Investment and retirement advisers—especially smaller shops—should take the time remaining to provide their feedback about the SEC’s proposed outsourcing rule,...
What Do the Mid-Terms Mean for ESG and SECURE 2.0?
ESG-minded investors have cause for concern, as Republicans prepare to take control of the House.
Judge Dismisses Charge of “Unreasonable” 401(k) Fees by Electronics-Maker Ricoh
A federal district court bounced two fiduciary breach claims brought by participants against Ricoh USA, saying plaintiffs failed “to plausibly...
DOL Proposes Changes to Voluntary Fiduciary Correction Program
The proposal would allow fiduciaries to correct certain transactional mistakes and then notify DOL instead of applying for approval beforehand.
DOL Rule Greenlights ESG, But Questions Remain
The new final rule seeks to make ESG permissible for ERISA plans, but specific use will still need to play...
Judge Recommends Dropping Most of $4.2B Retirement Plan Suit Against Nestlé
A U.S. District Court judge sided with Nestlé’s motion to dismiss most of the claims in a 401(k) class action...
DOL Finalizes Rule Opening Door to ESG Investing in Retirement Plans
The DOL announced a final rule that retirement plan fiduciaries can consider climate change and other ESG factors when selecting...
S&P Global Settles Mortgage-backed Security Case with SEC
Ratings agency agrees to $2.5 million fine over charges its sales and marketing team influenced analytics.
SEC Collects Record $6.44B On 760 Enforcement Actions in Fiscal 2022
The regulator raked in close to $4.2 billion in civil penalties, nearly three times the $1.46 billion collected the previous...
SECURE 2.0 Enjoys Widespread and Consistent Industry Support
Industry actors and interest groups continue to express enthusiastic support for SECURE 2.0 and support its passage in the coming...
DOL Hosts Public Hearing on QPAM Proposal
The commentators and DOL representatives had stark disagreements on the implications of some the proposal’s provisions.
Proposed Settlement Would Cost Juniper Networks $3 million
Juniper agreed to a proposed settlement dismissing allegations they mismanaged their sponsored retirement plan; judicial approval still required.
Applications and Implementation of The New Marketing Rule
Various leaders within the SEC discussed in a public seminar today some of the interpretations and applications of the new...
DOL Rejects ForUsAll’s ‘Tactical Retreat’ in Crypto Retirement Case
The DOL shot back at 401(k) provider ForUsAll’s offer to drop its suit if the court confirmed a DOL warning...
A Closer Look at the Emergency Savings Provisions in SECURE 2.0
Research shows ESAs can increase investment in retirement savings accounts, but Senate bills involved in SECURE 2.0 package contain different...
DOL: Plan Sponsors in PEPs Don’t Necessarily Need to Purchase Fidelity Bond
The department of labor clarified in a response letter some of the responsibility and costs that plan sponsors can offload...
ESG Industry Put on Notice by Congressional Republicans
ESG investment strategy and the businesses around it has been sharply criticized and challenged by Republican leaders on all levels...
A DOL ESG Investigation Story
An adviser’s message to his peers is to not fear including ESG factors in investment analysis.