Compliance December 5th, 2023 Inspector General Report Calls for Greater EBSA Authority The report argues that EBSA should have more authority over the Federal Thrift Plan and resources to conduct audits.
Compliance December 4th, 2023 NASAA Proposal of Best Adviser Practices Receives Pushback Critics say the proposal recommended to states goes beyond the SEC’s Reg BI and endangers annuity products and educational materials.
Compliance December 4th, 2023 Tyson Foods Employees Allege Excessive 401(k) Plan Fees The plaintiffs’ complaint included a detailed comparison of allegedly similar, lower-cost recordkeeper fees for the plan with $3.2B in assets.
Compliance December 1st, 2023 Report Outlines Policies That Could Support Social Security Bridge A New School report includes the option of a policy or program that would incentivize collecting Social Security at age...
Compliance December 1st, 2023 Shareholder Rights, ESG Rules Begin Friday The new rule will permit the use of ESG considerations in exercising of shareholder rights.
Compliance November 30th, 2023 IRS Part-Time Eligibility Rules Bring Relief, Surprise, Deadline Concern The vesting rule in the proposal is a focus for industry experts.
Compliance November 29th, 2023 Conservative Justices Leaning Against SEC in Administrative Proceeding Case A ruling against the regulator could limit its ability to bring and win enforcement cases against advisers.
Compliance November 28th, 2023 Part-Time Retirement Eligibility Proposal Seeks to Clarify Complex Legislation The IRS published fiduciary guidance on legislation intended to give more part-time workers access to retirement plans.
Compliance November 27th, 2023 Crypto Remains Massive Compliance Risk for Retirement Fiduciaries Last week, Binance, a crypto exchange, was hit with a record-breaking Treasury settlement.
Compliance November 22nd, 2023 SEC Charges Against Kraken Identify Specific Tokens as Securities The complaint is another sign to 401(k) plan fiduciaries to take care with digital asset availability in plans, according to...
Compliance November 21st, 2023 Wealth Manager Fined More Than $800,000 for Reg BI Violations Of their advisers, 2 were also fined and 1 suspended for 6 months for account churning and excessive trading.
Compliance November 20th, 2023 FINRA Proposal Would Allow Broker/Dealers to Use Projected Performance in Marketing to Retirement Plans The new rule would permit brokers to use projected performance in communications about qualified retirement plan investing.
Compliance November 20th, 2023 DOL Releases Informational Copies of 2023 Form 5500s The disclosure forms have been updated for 2023 filings to be completed in 2024.
Compliance November 16th, 2023 New Senate Bill Would Prevent Retirement Plans from Omitting Workers Aged 18-20 Many plans start participation at age 21; new legislation would require inclusion of anyone 18 or older.
Compliance November 16th, 2023 Biden Expected to Sign Continuing Resolution The resolution would prevent a government shutdown and keep the DOL funded through February 2.
Compliance November 15th, 2023 EBSA Denies Comment Period Extension for Fiduciary Proposal The regulator pushed back on industry requests to extend comment time for the controversial proposal; the period will still end...
Compliance November 14th, 2023 House Republicans Propose Budget Bill That Would Repeal DOL Rules Budget proposal for the DOL would prevent the regulator from implementing its ESG rule, independent contractor status and proposals on...
Compliance November 13th, 2023 United Airlines Sues Advisers for ‘Scheme’ to Defraud 401(k) Pilot Participants A lawsuit filed in Minnesota federal court claims an independent advisory deceived participants by taking loans from their accounts for...
Compliance November 13th, 2023 New Bill Would Require Private Fund Disclosures for Chinese Investments Senators seek to stymie Americans’ retirement savings being invested in China and other "countries of concern."
Compliance November 10th, 2023 How Advisers Can Help Close the Wealth Gap Panelists at the CFP Board’s Diversity Summit provided insights into how financial planners and advisers can reach disadvantaged communities.