PLANADVISER Weekend Newsdash
Week ending June 2nd, 2017
NOTE FROM THE EDITOR
Happy Friday, readers! This week brought another interesting development in the ongoing saga that is the implementation of the Department of Labor’s strict new fiduciary rule, in the form of a statement issued by new SEC Chair Jay Clayton. The messaging seems to indicate that DOL and SEC remain interested in improving protections for retail and retirement investors—despite the Trump administration’s anti-regulatory rhetoric. Find our full coverage and helpful context below.
Editor's choice
SEC Chair Clayton’s Recent Fiduciary Comments Are Revealing
The SEC chair issued only a brief statement on his intention to work with DOL officials on reforming conflict of interest regulations—but his language is revealing. 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 >
Bill Would Encourage More Employee Stock Ownership
The legislation would reform the Securities and Exchange Commission Rule 701, which imposes a slew of regulations on small businesses, especially newly formed start-ups. Read more >
FINRA and SEC Announce Compliance Forum for B/Ds
Cybersecurity, investing by seniors, and other regulatory topics of interest will be discussed. Read more >
On What Authority?
DOL’s authority to regulate the financial services industry is separate from the authority conferred on the SEC, FINRA and state insurance, and other, regulators. Notwithstanding the potential conflicts and overlaps, the courts appear to believe that the DOL and other regulators can co-exist and effectively regulate together. Read more >
MOST POPULAR STORIES
Many Retirees Wish They Had Delayed Taking Social Security Benefits

MassMutual says a married couple that lives into their 90s but decides to begin their Social Security benefits at age 62 as opposed to age 70 could be leaving as much as half a million dollars on the table, or forfeiting $2,000 to $4,000 a month for life.

Another Bill Proposed as Senate Committee Hearing Brings Calls for Retirement Action

Besides a lengthy Finance Committee hearing discussing the popular RESA legislation, the day on Capitol Hill also brought news of the introduction of the new Retirement Security and Savings Act.

Institutional Plans See Strong Q1 2019 Returns

U.S. equities were the driver of rebounds from the 4th quarter of 2018, according to the Northern Trust Universe and the Wilshire Trust Universe Comparison Service.

RESA, RSSA, SECURE Act and More Pile Up in Congress

Sources say the SECURE Act could pass the House this month, potentially setting the stage for a reconciliation process that could bring together common elements of multiple pending bills.

Excessive Fee Suit Filed Against Greystar Management

The lawsuit accuses the sponsor of a small 401(k) plan with failing to monitor and correct excessive fees.

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

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

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