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Weekday news and analysis for retirement plan advisers
Monday, December 18, 2023
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Compliance
Clorox Seeks Dismissal of 401(k) Forfeiture Complaint
PAPS-121523-Clorox-Dismiss-Complaint-1191186737-web
The company argues in the filing that its fiduciaries followed IRS guidance on how unused retirement assets can be used.
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SEC Suggests Retirement Assets Should Not Count Toward Accredited Investor Threshold
The regulator’s report on the accredited investor definition noted that many only qualify because of their DC plan assets.
Today’s Most Read
1. Altruist Includes Tax Planning on AI Platform for Advisers
2. Cerity Partners to Merge with Verus to Expand Investment Capabilities
3. Nuveen Offers to Acquire Schroders for $13.5B
Retirement Industry People Moves – 12/15/23
National Association of Investment Companies announces Abraham as vice president of development; Truist appoints Stengel as chief legal officer; Ameritas names new CFO; and more.
Lincoln to Shed Wealth Division With Sale to Osaic
Lincoln has agreed to sell its $108 billion wealth management business to focus on workplace and insurance services and products.
Credit Suisse Fined $10M by SEC for Not Properly Reporting State-Level Infraction
The bank had previously been cited by New Jersey for making misleading statements to investors but did not seek relief to continue advising mortgage-backed securities.
Market Mirror Market Mirror Graph

Friday, the Dow rose 56.81 points (0.15%) to close at 37,305.16, the Nasdaq rose 52.36 points (0.35%) to close at 14,813.92 and the S&P 500 fell 0.36 points (0.01%) to close at 4,719.19. The Russell 2000 lost 15.39 points (0.77%) to close at 1,985.13, and the FT Wilshire 5000 Index lost 47.25 points (0.10%) to close at 47,743.36.

The 10-year Treasury note increased 1/32, bringing the yield to 3.917%. The 30-year Treasury bond increased 5/32, bringing the yield to 4.014%.

For the week ending December 15, the Dow rose 2.92%, the Nasdaq rose 2.85% and the S&P 500 rose 2.49%. The Russell 2000 rose 5.55%, and the FT Wilshire 5000 Index finished 2.85% higher.

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