PLANSPONSOR Weekend Newsdash
Week ending May 5th, 2017
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 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 >
Confusion Abounds After Fifth Circuit Decision Vacates DOL Fiduciary Rule

The latest decision out of the Fifth U.S. Circuit Court of Appeals throws a dramatic new element of confusion into the epic regulatory saga that has been the rollout of the Department of Labor fiduciary rule.

Will SCOTUS Decide the Fate of the DOL Fiduciary Rule?

Some ERISA attorneys argue the Fifth Circuit decision last week to vacate entirely the DOL’s fiduciary rule expansion makes a Supreme Court decision on the matter inevitable; others are less sure that a decisive SCOTUS decision could be forthcoming, instead expecting the SEC to take the lead; still others admit they have little idea how the regulatory picture will shake out, recommending patience and ongoing compliance.

Many Americans Would Forego Social Security Payments for Student Loan Debt Forgiveness

The Student Security Act of 2017​ would grant $550 in student loan forgiveness for each month a student debtor was willing to raise his or her full retirement age, or $6,600 per year.

Nearly Three-Quarters of Boomers Want to Delay Retirement

More than three in 10 have no retirement budget.

DISRUPTION: Insider Service and Strategy Talk With PGIM
In an exclusive interview with PLANADVISER, PGIM Head of Institutional Defined Contribution Josh Cohen offers some guidance to advisers speaking with plan sponsors about litigation, fiduciary risk and progressive plan design.

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

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