Week ending May 5th, 2017

NOTE FROM THE EDITOR

Happy Friday, readers! This week brought the appointment of a new Chair at the Securities and Exchange Commission, Jay Clayton. Under the outgoing chair’s leadership the SEC took a more direct and aggressive role in policing the retirement investment marketplace. It remains to be seen what approach Clayton will take as chair, but it stands to reason that, as a Republican-appointed official, he will be more laissez faire in his approach to government intervention in the client-adviser relationship. Stay with www.planadviser.com for the latest coverage of SEC, DOL, FINRA and more.

Editor's choice

Jay Clayton Named SEC Chair At Pivotal Time For Industry

President Donald Trump nominated Clayton on January, 20, 2017, and he was confirmed by the Senate on May 2. The nomination by President Trump sends a clear signal to advisers about the likely style and character Clayton will bring to the Commission, especially compared with the ostensibly aggressive approach outgoing Obama-era Chair Mary Jo White brought to the role. Read more >

Mandatory RIA Succession Planning in the Works at SEC

The Securities and Exchange Commission is proposing a new rule and rule amendments under the Investment Advisers Act of 1940 aimed at bolstering advisory industry succession planning. Read more >

Broad SEC Initiative Targets RIAs and Brokers

SEC staff intends to revamp focus on registered investment advisers and broker/dealers selling investment products to retail investors and retirement savers. Read more >

Inside Look At SEC Deficiency Letter Trends

A new publication from the SEC outlines the five most frequent compliance topics identified in deficiency letters sent to SEC-registered investment advisers. Read more >

Rumbles of SEC Uniform Broker Standard Growing Louder

The Securities and Exchange Commission has given several signs that it could soon introduce a uniform standard of client care for registered brokers and advisers. Read more >

MOST POPULAR STORIES

Many Retirees Spending More Than They Expected

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

Butch Lewis Act Said to Fail to Address Multiemployer Pension Deficits

The Pension Analytics Group says the act would only temporarily mask the deficits, as opposed to reducing them and that the only solution is to reduce benefits across the board.

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.”

Bristol-Myers Squibb to Terminate $3.8 Billion Pension

It will offer lump sums to participants and transfer the remaining money to a group annuity contract from Athene Annuity and Life.

2019 Planning for DC Plan Clients

Willis Towers Watson offers nine actions for DC plan advisers to help their clients mitigate risks in 2019.

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

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

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