PLANADVISER Weekend Newsdash
Week ending March 27th, 2020

Even just a few weeks ago it would have been a stretch to imagine that the U.S. Congress would soon be passing the largest single economic stimulus package in the nation’s history. Fast forward to the end of March 2020 and the federal government is in the process of rolling out a $2 trillion relief package, and not a moment too soon. Single week unemployment claims jumped to well above 3 million, a figure that dwarfs the worst weeks of the Great Recession. Find below what we hope will be helpful insight and analysis of what comes next.

Editor's choice
Congress Moves Ahead on Major Stimulus
Wayne Chopus, president and CEO of the Insured Retirement Institute (IRI) and a close follower of the happenings in Washington, says the stimulus package includes many other forms of much-needed economic assistance that will hopefully help to blunt the impact on workers’ retirement planning success.   Read more >
How to Run a Remote Advisory Firm
‘This is likely the moment we will become full-time remote and never go back,’ one adviser says. ‘The challenge will be maintaining camaraderie.’ Read more >
Responding to Coronavirus, SEC Eases Certain Fund and Adviser Requirements
While in-person participation is an important part of the financial system regulated by the SEC, the virus is forcing market makers to significantly adjust their operations. Read more >
News Reports: Treasury Wants to See Money Market Fund Guarantee
Media outlets suggest one of the federal government’s responses to the coronavirus outbreak will be to temporarily guarantee money market funds—mirroring what proved to be an important policy decision made during the Great Recession. Read more >
Could Market Volatility (or Recession) Disrupt Record M&A Activity?
For some years now, advisory firm owners have enjoyed a sellers’ market that has spurred record merger and acquisition volumes. 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.
Home Depot ERISA Lawsuit Clears Dismissal Motions

While a court has ruled the plan’s advisers should be carved out of the litigation, the counts against Home Depot fiduciaries will proceed.

Excessive Fee Lawsuit Filed Against Duke Energy

The drumbeat of Employee Retirement Income Security Act (ERISA) excessive fee lawsuits rolls on.

AutoZone ERISA Suit Clears Motion to Dismiss

The district court declined to rule on the reasonableness of comparing actively managed funds to passively managed index funds on a motion to dismiss, clearing the way for discovery and potentially a full trial.

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