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.
Compliance December 21st, 2023 Empower, SPARK Push Back Against Fiduciary Proposal Their concerns arise from the wide range of sales conversations that take place between recordkeepers and plan sponsors and the...
Compliance December 20th, 2023 Appeals Court Sets Aside Share Repurchase Disclosure Rule The SEC could not meet a 30-day deadline to correct issues in the rule.
Compliance December 19th, 2023 Debating the Fiduciary Proposal: Pros and Cons Two industry players debate issues surrounding rollovers, annuity sales, and access for smaller accounts.
Compliance December 19th, 2023 Former Maryland Governor Martin O’Malley Confirmed as SSA Commissioner O’Malley says he will set his focus on employee morale and improving Social Security Administration response time.
Compliance December 18th, 2023 House Judiciary Committee Issues Subpoenas to BlackRock, State Street for ESG Documents The Republican-controlled committee alleges collusive behavior against the fossil fuel industry by asset managers participating in climate-related initiatives.
Compliance December 18th, 2023 IRS Publishes Revised Form 8881 The one-page form marks the symbolic start of SECURE 2.0’s enhanced tax credits for small business retirement plan startups.
Compliance December 15th, 2023 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 December 15th, 2023 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.
Compliance December 14th, 2023 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...
Compliance December 14th, 2023 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.