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Now Who Is a Fiduciary?
How the SEC's best interest rule could affect plans, IRAs
Tag: Department of Labor (DOL)
Compliance News
Legislative and Judicial Actions
FINRA Share-Class Sweep Highlights Importance of CooperationThe Financial Industry Regulatory Authority (FINRA) announced the final results of its mutual fund...
A DOL Secretary Scalia Would Quickly Find Direction
Having served as the DOL Solicitor General under the Bush Administration, experts suggest, Eugene Scalia would likely hit the ground...
For a Limited Time, MEPs Can Fix This Form 5500 Mistake
In a new Field Assistance Bulletin, the DOL addresses a set of common errors made by multiple employer plans as they attempt to comply with a reporting rule...
DOL Issues Final Association Retirement Plans Rule
In addition to the final ruling, the department has also released a 16-page request for information (RFI) on open MEPs.
Trump Announces Nomination for Secretary of Labor
Eugene Scalia, son of late Assistant Supreme Court Justice Antonin Scalia, was part of the team that defended the Chamber of Commerce in its lawsuit against the previous...
Labor Secretary Acosta Resigns Amid Controversy
President Donald Trump announced Deputy Labor Secretary Patrick Pizzella will replace Acosta's role in an acting capacity.
GAO Calls for DOL-IRS Collaboration on Prohibited IRA Transaction Exemptions
GAO says the two agencies do not share enough information on these exemptions, and that sharing more information would lead to greater transparency and consistency.
The Case That Almost Demolished the Retirement Plan Regulatory System
Expert ERISA attorneys have been eagerly awaiting the Supreme Court’s decision in a case called Kisor v. Wilkie. The complicated ruling issued Wednesday is the most significant of the...
Self-Correction and Compliance Tips from Former IRS Attorney
There are many fiduciaries out there who are not educated on the voluntary corrections programs run by DOL and IRS....
Fog Still Hangs Over Defunct DOL Fiduciary Rule’s Influence
By the time the 5th Circuit vacated the DOL fiduciary rule expansion last year, advisory and brokerage firms had spent many millions of dollars to comply with the...
Tracking SECURE Act, RESA, DOL Developments and More
The SECURE Act and open MEPs are among topics explored by the PLANSPONSOR National Conference ‘Washington Update’ panel.
DOL Regulatory Agenda Shows Proposed Fiduciary Rule Expected in December
During a House committee hearing in early May, Secretary of Labor Alexander Acosta said the Department of Labor (DOL) is working with the Securities and Exchange Commission (SEC)...
Rep. Fudge Grills DOL Secretary on Fiduciary Rule Foot-Dragging
During an exchange on Capitol Hill on Wednesday, the Democratic representative from Ohio pressed DOL Secretary Alexander Acosta for details on how the regulator is addressing advisory industry...
DOL Announces Two Know Your Fiduciary Responsibilities Seminars
The one in Detroit will take place on June 5 and in Wilmington, Delaware, June 25
Impact of Executive Order on ESG, Proxy Voting May Be Muted
One ERISA expert says fiduciaries already evaluating ESG risks and those being active in proxy voting will continue parsing whatever ad hoc disclosures are volunteered by companies.
Plan Sponsors Affected by Severe Storms Get ERISA Compliance Relief
The Department says it recognizes that severe storms may impede efforts by plan fiduciaries in Nebraska, Iowa and Alabama to comply with the Employee Retirement Income Security Act...
Investment Adviser Ordered to Pay $1.6M Restitution to Pension Plan
The Department of Labor's Employee Benefits Security Administration determined he defrauded $2 million from the Rehabilitation Center for Children & Adults Inc. Pension Trust