PLANADVISER Weekend Newsdash
Week ending January 12th, 2018

Happy Friday! In this, the second edition of PLANADVISERweekend for 2018, we focus on the always-timely topic of Investing. As readers are likely aware, this week the U.S. Securities and Exchange Commission signaled it may be ready to take the wheel from the Department of Labor in deciding how to proceed with the Obama-era fiduciary conflict of interest reforms. Expert attorneys have already weighed in about how the SEC could proceed differently, or not, from the DOL, and how the whole process may ultimately effect the way advisers are compensated for investment recommendations. Find the latest commentary and related articles and research below.

Investing and the SEC
With SEC Move Pending, New York Joins Other States Making Fiduciary Reforms
Regulatory developments in Nevada and New York show inaction at the federal level on clarifying advisers’ and brokers’ fiduciary duties is leading to a patchwork of state-by-state approaches to mitigating conflicts, real and perceived.  Read more >
SEC and DOL Face Hurdles in Fiduciary Collaboration
When it comes to the possibility of a uniform advice standard for advisers and brokers coming from the SEC, one attorney argues “things are still very much in a wait-and-see mode,” despite increased chatter among lobbying organizations about the possibility. Read more >
SEC Takes Aim at Bond Market Liquidity Issues in 2018
The U.S. Securities and Exchange Commission (SEC) released its agenda for the inaugural meeting of the Fixed Income Market Structure Advisory Committee. Advisers can offer up their suggestions for topics on which the committee should focus.  Read more >
Mutual Fund Performance Reporting for the 21st Century
A recent speech given by SEC Commissioner Kara Stein highlights the shifting landscape of mutual fund reporting, and how emerging technologies are reshaping the way investors will compare performance and costs. Read more >
Stable Value Lawsuits and the Goldilocks Zone
Even though there is no typical stable value fund, heading into 2018 there have been three typical types of lawsuits filed against fiduciaries offering stable value funds, according to ERISA attorneys with Mayer Brown. Read more >
Growth in TDF Market Underscores Proprietary Product Debate
The drivers behind a target-date manager offering open architecture most commonly include the belief that participants benefit from asset manager diversification and the need to outsource allocations to access best-in-class strategies. Read more >
MOST POPULAR STORIES
Many Retirees Spending More Than They Expected

However, retirees spend 32% less than non-retirees.

First Deadline Looming for SEC Electronic Disclosure Compliance

When the SEC adopted the new Rule 30e-3 earlier this year, creating a new system for electronic delivery of fund information, it also established a transition disclosure period that starts in January, during which "funds that choose to implement the new delivery method for shareholder reports provide prominent disclosures in prospectuses and certain other shareholder documents that will notify investors of the upcoming change in transmission format.”

Progressive Plan Design Features Have Moved Down-Market
These are streamlining plan administration, increasing investment diversification and improving participant outcomes.
MetLife Pension Calculations Questioned in ERISA Complaint

The complaint suggests MetLife is failing to meet its obligations to ensure different annuity options offered to pension plan participants are actuarially equivalent default benefit, as required under ERISA.

Employee Knowledge Levels Indicate Need for Financial Wellness Education

Employees expressed concerns about budgeting, health care and emergency funds, and low levels of knowledge about financial and retirement topics were reported.

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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