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Weekday news and analysis for retirement plan advisers
Thursday, October 27, 2022
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ERIC Publishes Letter Offering Support and Recommendations for SECURE 2.0
The letter offered broad support for many of the provisions in the three bills composing ‘SECURE 2.0’ and provided recommendations for the final legislation.
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The SEC Adopts Rules on Shareholder Reporting, Fund Advertisements
The rules adopted by the SEC update requirements for mutual fund and ETF shareholder reports and promote transparent fee and expense presentations in investment company advertisements.
Today’s Most Read
1. A ‘Slam Dunk’: 401(k) Auto-Portability Network Nears Live Date
2. Funds’ Portfolios Must Reflect Their Name, SEC Says
3. Money Over Marriage: Younger Generations’ Priorities Present Adviser Opportunity
SEC Proposal Calls for Vetting of Outsourced Services by Advisers
The SEC says the new rule proposals are responding to the growing trend in use of third-party vendors by financial advisers. An adviser association calls them ‘overly burdensome.’
Market ‘Fear Factor’ Has Retail Annuities Booming. Can In-Plan Options Catch the Tailwind?
Market volatility is contributing to record sales of retail annuities. But in-plan annuities to provide guaranteed income in retirement are mostly still on the horizon due to lack of product maturity and adviser hesitancy.
Empower Hit With Government Markets Lawsuit
The complaint has alleged fiduciary breach under the Investment Advisers Act. 
Market Mirror Market Mirror Graph

Wednesday, the Dow gained 2.37 points (0.01%) to close at 31,839.11, the Nasdaq lost 228.12 points (2.04%) to close at 10,970.10 and the S&P 500 decreased 28.51 points (0.74%) to end at 3.,830.60 . The Russell 2000 lost 8.17 points (0.46%) to close at 1,804.33 and the Wilshire 5000 was down 240.42 points (0.62%) to close at 38,262.17.

The price of the 10-year Treasury note increased 7/32 lowering the yield to 4.017%. The price of the 30-year Treasury bond increased 1 28/32 lowering the yield to 4.155%.

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