PLANADVISER Weekend Newsdash
Week ending September 13th, 2019

For the casual observer, the shifting tangle of laws and regulations governing the behaviors of retirement plan fiduciaries can seem almost comically complex. For industry practitioners, wrestling with regulatory compliance is a daily battle, and one with potentially dire personal and professional consequences. Below you will find a roundup of significant regulatory events from 2019. We hope you’ll share some of what you read with a client or colleague.

Editor's choice
Fiduciary Advisory Firms Sue to Block SEC’s Reg BI
Two advisory firms argue they are harmed by the “best interest” rule because it causes them a competitive disadvantage with respect to broker/dealers, and because the rule will increase rather than abate investor confusion. Read more >
State AGs’ Lawsuit Just One Part of Broader Fiduciary Fight
There is an all-out regulatory tug of war going on between consumer groups, the brokerage industry, the states and the SEC. Read more >
SEC Complaint Dissects Fee-Based Firm’s Revenue Sharing Strategy
The Securities and Exchange Commission takes issue with revenue sharing tied to a preferred broker’s “transaction fee” program, underscoring how fee-based advisers are not immune from allegations of conflicts of interest. Read more >
SEC Shakes Up the Proxy Voting Landscape
The Investment Adviser Association says the SEC’s proxy voting guidance will increase costs for advisers and also increase barriers to entry for proxy advisory firms.   Read more >
DOL Sends Electronic Disclosure Rule to OMB
The proposed rule, which the OMB has up to 60 days to review is aimed at reducing costs and improving participant understanding of retirement plan disclosures. Read more >
Corrections Made to ‘One-Bad-Apple’ Rule Proposal for MEPs
In July, the IRS proposed regulations that would provide an exception, if certain requirements are met, to the application of the “unified plan rule,” what the industry refers to as the “one-bad-apple rule,” for MEPs. Read more >
MOST POPULAR STORIES
Retirement Plan Cybersecurity the Issue in a New Lawsuit

A retirement plan participant who had $99,000 stolen from her account has sued the plan sponsor and plan providers.

Retirement Income Coming Soon to a 401(k) Near You
Experts believe that in the next few years, DC plan sponsors will embrace this option.
The Four Possible Paths for Senate SECURE Act Passage

There are several potential paths forward for the SECURE Act, which remains stalled in the U.S. Senate despite is bipartisan appeal.

Plugging the Leak: Uncashed Distribution Checks
Drip… drip… drip. The slow drip of defined contribution plan leakage continues.
While Popular, Default Electronic Delivery of Plan Documents Irks Some

Retirement plan service providers generally support making electronic delivery of documents the default, but print communication industry organizations and some consumer groups say the paper default should remain.

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

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