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
Education About Tax Treatment and Fees Could Boost 401(k) Participation

Findings from a Capital One survey about why employees do not participate in their employer-sponsored retirement plan offers opportunities for education, according to Stuart Robertson.

IRS to Focus on Retirement Plan Distributions and 403(b) Plan Rules in 2019

A Program Letter lists compliance strategies for the agency for next year.

How Rising Interest Rates Affect Stable Value Funds
While money market funds may look more appealing in the short run, this is not expected to last.
Inertia Remains a Plan Sponsor Problem, Too

The language of “inertia” and “disengagement” are often used to describe the natural state of retirement plan participants, but new research from Wells Fargo suggests plan sponsors are also prone to settling with the status quo.

Kaleida Health Faces 403(b), 401(k) Plan Fee Lawsuit

The complaint specifically calls out the 11 T. Rowe Price target-date funds (TDFs) offered by the plans, saying they are all adviser or retail class funds—as opposed to investor or institutional class funds.

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

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

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