PLANSPONSOR Weekend Newsdash
Week ending June 2nd, 2017
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 >
Advisers Beware and Be Cautious When Talking Taxes in 2018

During a webinar called to discuss the advisory industry impacts of the Tax Cuts and Jobs Act, experts warned advisers to be ready to decline to offer tax advice during 2018—over and over again.

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.

Three Quarters of Americans Have Not Planned for LTC Needs

Yet nearly six in 10 say saving for long-term care is a financial priority

HSA Knowledge Gap Offers Clear Adviser Service Role

Health savings accounts are often described as the 401(k) of health care—so it is only natural that retirement specialist advisers can play an important role in educating the public about these important savings vehicles; survey data shows more education and advice is desperately needed. 

Advisers Moving to a Client-Centric Model

Advisers are using new planning models and smarter technology, including automation, so that they can offer personalized service, SEI finds.

Editorial: Alison Cooke Mintzer

Advertising: Paul Zampitella

Subscribe to NewsDash, click here.
To unsubscribe, click here.
BrightScope / CIO / FWW / Global Custodian / Investor Economics / LiquidMetrix / Market Metrics / Matrix Solutions / PLANADVISER / Plan For Life / PLANSPONSOR / Simfund / The Trade