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January 31st, 2019 |
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| Former SEC Enforcer Reviews Regulator’s 2019 Agenda | |
During a webcast hosted by ACA Compliance Group, Allison Charley, a former SEC examinations office leader, explained the regulator’s internal process for picking audit targets; other speakers noted the SEC’s increased focus on suitability issues and cybersecurity.
Read more > | | | ERISA Lawsuit Filed Over Managed Account Arrangement | |
A participant in the Palace Entertainment 401(k) plan has filed a lawsuit against Stadion Money Management and Mutual of Omaha alleging that she and other participants in a proposed class lost money due to violations of Employee Retirement Income Security Act fiduciary duty by Stadion Money Management and Mutual of Omaha.
Read more > | | | The SEC on Rollovers | | The SEC says that an RIA is a fiduciary with duties of loyalty and care. That applies to all advice, including recommendations to take money out of a plan and roll it into an IRA with the adviser. To satisfy the duty of loyalty, the RIA must disclose conflicts of interest, including conflicts resulting from rollover recommendations.
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| Sponsored message from Franklin Templeton | | Global Investment Outlook: Distortion, Divergence & Diversification | | Will global growth lose momentum in 2019? Our senior investment leaders see plenty of reasons to be optimistic about the year ahead but say opportunities may be more divergent. Read their latest views.
Read more > | | | Participants Need to Be Reminded About the Saver’s Credit | | The Saver’s Credit, also referred to as the Retirement Savings Contributions Credit by the Internal Revenue Service, is available to eligible taxpayers who are saving for retirement. However, 62% of workers are unaware of the credit, according to survey findings from the Transamerica Center for Retirement Studies.
Read more > | | | Protection for Your Practice | | The current litigation environment makes questions about fiduciary liability incredibly important for advisers to answer.
Read more > | | | Market Mirror | | Wednesday, the Dow gained 434.90 points (1.77%) to finish at 25,014.86, the NASDAQ climbed 154.79 points (2.20%) to 7,183.08, and the S&P 500 closed 41.05 points (1.55%) higher at 2,681.05. The Russell 2000 was up 15.49 points (1.05%) at 1,486.94, and the Wilshire 5000 increased 404.71 points (1.48%) to 27,741.52.
The price of the 10-year Treasury note increased 9/32, bringing its yield down to 2.680%. The price of the 30-year Treasury bond was up 3/32, decreasing its yield to 3.038%.
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Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com
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Advertising: Paul Zampitella paul.zampitella@strategic-i.com
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