Deals & People February 28th, 2023 Biden To Nominate Su for Secretary of Labor Deputy Secretary of Labor Julie Su has been selected to replace the outgoing Marty Walsh, but Senate confirmation may bring...
Compliance February 28th, 2023 EBSA Head Says Disclosure, SECURE 2.0, ESG Are Key Priorities EBSA’s Lisa Gomez identified upcoming regulatory priorities related to SECURE 2.0 and the importance of effective disclosure at a conference...
Compliance February 24th, 2023 DOL Updates Form 5500 for 2023 This year’s changes include reporting modifications for PEPs and small plans.
Compliance February 24th, 2023 Embattled DOL ESG Rule Receives Democratic Congressional Support A DOL rule permitting ESG considerations in retirement plan investing has been challenged by two separate lawsuits. House Democrats are...
Compliance February 23rd, 2023 Legal Complaint Says DOL’s ESG Rule “Jeopardizes” Retirement Savers A second lawsuit in less than a month has been brought challenging the legality of the DOL’s rule concerning ESG...
Compliance February 22nd, 2023 Expert: Advisers Should Pause on DOL Rollover Guidance Despite Court Reversal In the meantime, legal experts discourage advisers from violating it in case it is re-instated.
Compliance February 17th, 2023 Senator Pushes For Crypto Option in 401(k) Plans Republican Senator Tommy Tuberville reintroduced a bill pushing back on DOL guidance that limits 401(k) providers offering crypto in plans.
Deals & People February 16th, 2023 Labor Secretary Walsh Departing to Lead NHL Player Union The DOL confirmed reports that Walsh will depart in mid-March; deputy secretary Julie Su will serve as acting secretary.
Compliance February 14th, 2023 Federal Judge Nixes DOL Rollover Guidance Interpretation A U.S. District Court judge ruled that Department of Labor guidance violated the Administrative Procedure Act.
Compliance February 13th, 2023 DOL: More Time to Comment on Fiduciary Correction Program The Department of Labor has extended the public comment period for a program that would allow fiduciaries to self-correct for...
Compliance February 7th, 2023 DOL Secretary Walsh Reportedly Leading Candidate to Helm NHL Players’ Association The approval of Walsh to head the NHLPA is considered a “formality.”
Compliance January 30th, 2023 Republican States Challenge DOL ESG Rule in Court A 2022 DOL rule clarifying that ESG strategy can be used in fiduciary decisions was challenged by 25 states in...
Compliance January 27th, 2023 States’ Suit Could Delay DOL Rule on ESG Investing Rule to permit ESG considerations is due to take effect on Monday, but a federal lawsuit aims to derail it.
Compliance January 20th, 2023 Regulatory and Statutory Changes Coming to Self-Corrections Programs Plans will find more room to correct their own mistakes under SECURE 2.0 and a DOL proposed rule change.
Compliance January 19th, 2023 DOL Contractor Rule Threatened by 20% Adviser Quit Rate An FSI survey shows independent advisers would retire before being classified as employee as the DOL mulls tens of thousands...
Compliance January 18th, 2023 Sports Agency Owner Charged for Allegedly Stealing Retirement Assets The Houston-based sports agent was served a civil suit by the Department of Labor for allegedly dipping into employee retirement...
Compliance January 10th, 2023 DOL to Consult Industry on How To “Facilitate” PEP Uptake Among items on DOL/EBSA's agenda: speaking with retirement plan service providers, employers and employees on what regulators can do to...
Compliance December 22nd, 2022 Variable-Rate Premiums To Be Capped by SECURE 2.0 The variable premiums paid to PBGC would be un-indexed from inflation.
Compliance December 15th, 2022 Certified Financial Planner Board Issues Crypto Guidelines The nonprofit warns financial planners that crypto-related assets “can be speculative and volatile.”
Compliance December 13th, 2022 Participants Regain $1.4 Billon Thanks to EBSA’s Interventions The largest category of plan money recovery was from enforcement actions.