PLANADVISER Weekend Newsdash
Week ending August 9th, 2019

Happy Friday, readers! This weekend’s mailing focuses on the ever evolving topic of regulatory compliance. Below you will find our latest coverage of the DOL, SEC, FINRA and state-based regulators. Particularly timely is the news about New York’s expanded “best interest” standard, which took effect on August 1st for annuity contracts and will take effect February 1, 2020, for life insurance policies. In a new decision, the New York Supreme Court calls the expansion “a rational and reasonable movement towards consumer protection.” We hope you share some of what you read with a client or colleague.

Regulatory Radar
New York’s Top Court Endorses Fiduciary Standard for Insurance Sales
New York’s expanded “best interest” standard took effect on August 1st for annuity contracts and will take effect February 1, 2020, for life insurance policies. In a new decision, the New York Supreme Court calls the expansion “a rational and reasonable movement towards consumer protection.” Read more >
Hopes for Upset in FINRA Board Election
A contested election for a seat on the FINRA Board of Governors will be settled at the annual meeting of member firms on August 19. PLANADVISER spoke recently with both candidates in the tight race for the open large firm seat. Read more >
DOL Issues Final Prohibited Transaction Exemption for Auto-Portability
Now that participants’ small balances may be automatically transferred to their new 401(k) account, Retirement Clearinghouse expects to see a lot of business. 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 >
For a Limited Time, MEPs Can Fix This Form 5500 Mistake
In a new Field Assistance Bulletin, the DOL addresses a set of common errors made by multiple employer plans as they attempt to comply with a reporting rule introduced in 2014. Read more >
MOST POPULAR STORIES
Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
A New World and New Opportunities for Alpha
Pandemic-driven volatility has once again highlighted the relative virtues of active and passive management.
2020 PLANADVISER Retirement Plan Adviser Survey
Proposed Bill Would Give 403(b) Plan Sponsors Access to Open MEPs

The SECURE Act's provisions for pooled employer plans (PEPs) did not apply to 403(b) plans.

New Take on the 401(k)
Biden’s controversial retirement savings tax credit proposal.
rss icon twitter icon linkedin-in icon facebook icon
ISS MEDIA logo
Unsubscribe | Manage Subscriptions | Contact Us | Privacy Policy | Advertise
©2020 Asset International, Inc. All rights reserved.
702 King Farm Boulevard, Suite 400, Rockville, MD 20850