PLANADVISER Weekend Newsdash
Week ending August 2nd, 2019

The U.S. Congress is heading into its summer recess, leaving a number of retirement-focused pieces of legislation hanging in the either. From the SECURE Act to the Butch Lewis Act, advocates for different pieces of legislation say they will remain active in the weeks and months ahead, with the goal of making progress before the presidential election year. Find below our latest coverage of Capitol Hill. We hope you’ll share some of what you read with a client or colleague. Also, consider joining us at the PLANADVISER National Conference in September for the latest updates. 

Editor's choice
FINRA Share Class Sweep Highlights Importance of Cooperation
The regulator granted significant credit for “extraordinary cooperation” to those firms which were proactive in identifying and fixing issues related to fee waivers for certain mutual fund share classes. Read more >
2019 PLANADVISER National Conference
Alison Cooke Mintzer, together with her advisory committee members, are building a provocative and compelling agenda to ensure every 2019 PANC attendee is energized, engaged and inspired! We’re also planning some exciting surprises and more opportunities than ever to share your value, and let you connect one-to-one with your peers. Read more >
Industry Demands Delay of New Jersey Fiduciary Regs, Deference to SEC
Advocacy and lobbying organizations representing the interests of brokers/dealers and investment advisers operating in New Jersey continue to voice their disapproval of the proposed regulations. Read more >
Fiduciary Clarity Needed for Successful Open MEP Expansion
Open MEPs as detailed in the SECURE Act offer a structure for a small plan to get maximum fiduciary support, experts say, but the roles and responsibilities of all the parties involved can be hard to keep straight. Read more >
Split House Committee Advances Stressed Union Pension Loan Program
Democrats on the House Ways and Means Committee were adamant the bill is a positive first step that can and should be built upon in a bipartisan manner. Read more >
Proposed Regs Would Provide Exception to One-Bad-Apple Rule for MEPs
A final rule would take care of one item being considered in legislation proposing the ability for employers to join open multiple employer plans (MEPs). Read more >
A DOL Secretary Scalia Would Quickly Find Direction
Having served as the DOL Solicitor General under the Bush Administration, experts suggest, Eugene Scalia would likely hit the ground running as a Labor Secretary with a conservative agenda. Read more >
MOST POPULAR STORIES
Why Small Business Owners Often Resist 401(k)s

Two of the reasons most commonly cited by small business owners for not offering a retirement plan are the beliefs that their business is too small to qualify and that they can’t afford a match.

'Massive' Fraud Charges Trigger Allianz Global Investors U.S. Sale to Voya

The SEC says the charges and settlement show even the most sophisticated institutional investors, like pension funds, can become victims of wrongdoing.

NFP Named as Defendant in Parallel Molina Healthcare ERISA Suit

The plaintiffs in the suit, who have already sued their plan sponsor, are now bringing a service provider into the litigation.

Is the Traditional Fiduciary Insurance Model at Risk?
One legal professional at a fiduciary insurance firm argues that the ‘indiscriminate nature’ of recent ERISA lawsuit filings could eventually culminate in a crisis for the retirement plan industry’s current approach to risk management and fiduciary insurance.
Barnabas Health Latest to Settle ERISA Suit

A settlement has been struck in an ERISA lawsuit involving the New Jersey-based health care provider a little more than a year after a judge allowed the case to proceed past the defense’s motion to dismiss.

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