PLANADVISER Weekend Newsdash
Week ending February 8th, 2019

Happy Friday, readers! This weekend’s mailing focuses on the always timely topic of regulatory compliance. Below you will find our latest coverage of the DOL, SEC, FINRA and state-based regulators. These entities have all been busy so far in 2019, and they are putting new examination priorities into place to reflect ongoing shifts in the investment advice and brokerage industries. Don’t forget to check the most-read section as well. Our readers are clearly paying a lot of attention to these topics, and rightly so. 

Compliance
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 >
Form 5500 Reviews Lead to DOL Letters About Timely Remitting Contributions
“Invitation to correct” letters state, “the 15th business day is not a safe harbor and is included in the regulation only as an outside limit of the time that may be considered for segregation of assets.” Read more >
Former Lead FINRA Enforcer Dissects Regulator’s 2019 Priorities Letter
In a Q&A with PLANADVISER, Mirella deRose draws on her experience leading FINRA enforcement in describing what she sees as the most important elements of the regulator’s recently published member priorities list for 2019. Read more >
B/D Attorney: Don’t Be Distracted by FINRA Examination Priorities Letter
Alan Wolper, an attorney with significant experience helping advisers and brokers navigate FINRA and SEC examinations, says the recently published FINRA 2019 priorities list is interesting, but ultimately not all that informative when it comes to helping advisers avoid the most pressing compliance issues. Read more >
Bipartisan Retirement Enhancement and Savings Act Reintroduced in House
The bipartisan bill enjoys broad industry support; among other provisions, it would add flexibility for small businesses to join multiple employer plans. Read more >
SIMPLE Plan Modernization Act Introduced in Senate
It aims to make SIMPLE plans more accessible among small businesses and would raise the contribution and catch-up limits. Read more >
MOST POPULAR STORIES
Three New ERISA Lawsuits Bash Actively Managed TDFs

Three new lawsuits question the offering of actively managed target-date funds to retirement plan participants.

$300 Million Plan Faces ERISA Fiduciary Breach Lawsuit

The plan being challenged in the latest fiduciary breach lawsuit held less than $300 million as of the start of last year, making it one of the smallest to become the target of an ERISA complaint.

Attorneys Offer Closer Reading of DOL’s Open MEP RFI

Advisers and broker/dealers hoping to work with open multiple employer plans now have a short window to offer their perspectives to the Department of Labor and the Internal Revenue Service.

Another Lawsuit Challenges Use of Untested CITs in 401(k) Plan

A similar lawsuit was filed in May against an investment manager and a different plan sponsor.

DOL Aims to Quickly Simplify Conflict of Interest Framework

The main theme of the new fiduciary rule proposal is alignment with other regulators—the SEC and FINRA in particular—but the agency is by no means surrendering its jurisdiction over tax-qualified retirement plans.

rss icon twitter icon linkedin-in icon facebook icon
ISS MEDIA logo
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2020 Asset International, Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850