PLANADVISER Weekend Newsdash
Week ending March 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. Particularly interesting is Groom Law Group’s David Kaleda’s most recent column, offering advisers an inside view of what it’s like to be the subject of a Department of Labor examination under the Employee Retirement Income Security Act (ERISA). We hope you will share some of what you read with a client or colleague.

Regulation News
What Is a DOL Adviser Investigation Like?
The number of Department of Labor investigations of financial advisers has steadily increased over the years; here is a primer on the DOL’s sources of authority, and what to expect when examiners come knocking. Read more >
Make the Most of FINRA’s 529 Share Class Disclosure Initiative
FINRA is encouraging firms to undertake a qualitative review of their supervisory practices ranging back to 2013—not a full quantitative analysis of individual 529 plan transactions or recommendations. Read more >
IRS Asks for Comments Regarding 403(b) Plan Auto Enrollment
The request regards information collection for Revenue Ruling 2000-35, which describes certain criteria that must be met before an employee’s compensation can be reduced and contributed to an employee’s section 403(b) plan in the absence of an affirmative election by the employee. Read more >
SEC Money Market Rule Changes Still Playing Out
The SEC made fundamental changes to the rules governing money market funds back in 2014; according to John Faustino at Fi360, the rule changes have created a big opportunity for advisers with stable value fund expertise. Read more >
GAO Asked to Examine Retirement System Cybersecurity
In a letter to the Government Accountability Office (GAO), lawmakers said retirement savings are “a tempting target for criminals who could hack into plans and individuals’ accounts to access information, commit identity fraud, and steal retirement savers’ nest eggs.” Read more >
Comment Deadline Arrives for NAIC Annuity Sales Best-Interest Rule
The standard-setting and regulatory support organization governed by the chief insurance regulators of all 50 states set today as a deadline for industry comments on the latest draft of a model best-interest suitability standard applying to annuity sales. Read more >
MOST POPULAR STORIES
Asset Managers Weigh In on DC Plan Investment Trends

They foresee growth in the use of CITs, retirement income products and ESG investments.

Moving From Words to Actions on Diversity, Equity and Inclusion
Adviser industry professionals tasked with addressing the serious lack of diversity and inclusion in their field say the events of the past few years have helped supercharge efforts to solve a longstanding problem.
The 2022 M&A Outlook: Bumper or Bust?
Experts foresee strong interest in retirement industry merger and acquisition deals continuing next year, but firms may have more difficulty securing top talent as the number of transactions mounts.
The 2022 Retirement Legislation Landscape Takes Shape

The SECURE Act became law at the very end of 2019, ushering in major changes for the retirement planning industry, and experts are again asking whether the close of 2021 could bring similar progress.

Succession Planning Marketplace Evolves
While plan advisers often discuss the importance of succession planning with plan participants or wealth management clients, they might need to follow their own advice when evaluating plans for their business.
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