Legislative and Judicial Actions
Provider Recommendations
Cybersecurity Considerations
DOL Announces Anticipated ESG Fiduciary Investing Rule
Agency leaders say the principal idea of the new proposal is that climate change and other ESG factors can be financially material and, when they are, considering them will inevitably lead to better long-term risk-adjusted returns.
Social Security Benefits Will Grow 5.9% in 2022 Amid Renewed Inflation Concerns
The important federal benefit increases when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers, or the ‘CPI-W.’
Court Rebuffs DOL’s ESOP Valuation Case Against Engineering Firm
One commentator who works in the employee stock ownership plan space says the ruling represents “one of the most comprehensive rebukes of DOL arguments” in such a valuation case.
PANC 2021: Investigation Lessons Learned From Experience
DOL, IRS and PBGC Call for Comments on Form 5500 Revisions
In addition to asking for input on the SECURE Act’s requirements and the current Form 5500, the DOL has published a notice of proposed changes to its implementation of regulations under Title I of ERISA.
SEC Sanctions Offer New Cybersecurity Guideposts
Order Sanctions Fiduciary Who Diverted Millions From Clients
A DOL investigation and legal pursuit that have spanned the better part of two decades have drawn to a close, resulting in a $42 million judgment against the former attorney and affiliated companies.
Consumer Protection Motivates Barbara Roper’s Move to SEC
SEC Chair Gary Gensler says her focus as a senior adviser will be on issues relating to retail investor protection, including broker and adviser oversight and examinations.
Cybersecurity and ERISA
Now a Fiduciary
Legislative and Judicial Actions
ESG and Shareholder Rights Rule Under White House Review
The language of the regulation has not yet emerged, but the title published by the Department of Labor suggests it will address both ESG and proxy voting matters.
An ESG Refresher as DOL Makes Progress on New Regs
Industry experts are watching for the imminent filing of new Department of Labor regulations pertaining to the use of environmental, social and governance themed portfolios by tax-advantaged retirement plan investors.
DOL Promises Final Rule on Lifetime Income Illustrations As Soon As Practicable
The agency clears up timing questions in a FAQs document and says it realizes the concerns about timing if its final rule differs from its previously published interim final rule.
Dissecting TIAA Subsidiary’s $97 Million SEC Rollover Settlement
A subsidiary of TIAA will settle conflict of interest charges related to the provision of rollover advice to employer-sponsored retirement plan participants; the development offers up some important considerations for financial services professionals.
DOL Addresses Question About Providing Audio Recordings to ERISA Claimants
The requirement to produce requested documents and the definition of relevant documents addressed in a DOL information letter applies to retirement plans, an attorney tells PLANADVISER.
A DOL Fiduciary Rule and PTE Refresher
No matter if an adviser is a flat-fee registered investment adviser or a commission-based broker/dealer, the DOL says the collection of compensation related to rollover guidance is almost always going to be a prohibited transaction, triggering the need for an exemption.