May 7th, 2019

AXA Fined for Misrepresentations About Bond Funds FINRA claims AXA Advisors sent disclosures to 401(k) plan sponsors and participants that misrepresented the credit quality of bond funds with group annuity accounts. Read more > Plaintiffs in University of Pennsylvania 403(b) Suit Get Second Chance An appellate court revived two claims in the lawsuit that had been previously completely dismissed by a District Court, but in a dissenting opinion, one judge expressed concern about permitting implausible allegations to result in a large settlement. Read more > Senate Confirms Gordon Hartogensis as Director of PBGC Family trust trustee with Senate connections named 16th director of pensions lifeboat. Read more > Asset Managers Should Help DB Plans Take Holistic View of Risk In a report, Cerulli Associates makes suggestions for actions defined benefit (DB) plan asset managers can take to help plan sponsor clients manage market volatility. Read more > MOST READ ARTICLES 1 Franklin Templeton to Acquire Putnam for $925 Million 2 Congress Says It Will Fix at Least 4 Errors in SECURE 2.0 3 Smart Acquires Managed Account Provider ProManage 4 Recordkeeper “House” Investment Options Worth a Look, But Carefully, Advisers Say 5 FINRA Fines Vanguard for Overstating Money Market Projections

New Morningstar Platform Enables Advisers to Research Investment Models Called Model Marketplace, it also enables advisers to personalize strategies for clients. Read more > Maximizing Growth Potential ‘Open MEP’ legislation could boost the number of such plans well past 2,641 Read more > Market Mirror Yesterday, the Dow was down 66.47 points (0.25%) at 26,438.48, the NASDAQ lost 40.71 points (0.50%) to finish at 8,123.29, and the S&P 500 closed 13.17 points (0.45%) lower at 2,932.47. The Russell 2000 was virtually unchanged at 1,614.98, and the Wilshire 5000 decreased 116.77 points (0.38%) to 30,343.82.   The price of the 10-year Treasury note was up 7/32, decreasing its yield to 2.497%. The price of the 30-year Treasury bond increased 9/32, bringing its yield down to 2.907%.

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