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
First Hints of Potential New DOL Fiduciary Rule Emerge

The Department of Labor has submitted a draft regulation to the Office of Management and Budget.

Retirement Plan Cyberfraud Suit Moves On With Claims Against Both Parties

A federal judge previously moved forward ERISA claims against retirement plan providers and has recently allowed for a counterclaim by the providers against the plan sponsor.

The Retirement Crisis Is a Coverage Crisis
For those workers who are offered a retirement savings plan at work, the U.S. retirement system functions pretty well; solutions are needed, however, to extend coverage to millions more Americans.
Lawsuit Calls Into Question Reasons for Fund Changes

Plan participants allege prohibited transactions between a plan sponsor and its investment manager relating to a revamp of the plan's investment lineup.

Split Supreme Court Rules in Thole v. U.S. Bank; Major Implications for Pensions

The case is expected to help determine whether the millions of Americans whose pensions are held in defined benefit plans have the right to sue the fiduciaries of their plans for mismanaging assets, even when their own retirement benefit has not suffered.

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