The guidance published by the Department of Labor reminds the industry that boilerplate, fine print disclaimers that investment advice is not being provided won’t cut it.
The guidance, which is the first of its kind, includes best practices and tips for protecting retirement benefits.
He takes the helm at the Securities and Exchange Commission during a key time of transition and reflection for the market regulator, which is engaged in multiple important projects affecting advisers’ and brokers’ practices.
This is meant to help retirement investors, employee benefit plans and investment advice providers.
We will discuss how asset managers are putting environmental, social and governance investing themes to work. Particular attention will be paid to the regulatory environment and the potential to pursue greater investment returns by seeking out companies with higher ESG ratings.
Trade groups and advocacy organizations representing the retirement planning industry have reacted positively, if cautiously, to the confirmation of Marty Walsh as labor secretary.
The full Senate voted Monday evening to approve the nomination of Boston Mayor Marty Walsh to lead the U.S. Department of Labor at critical time for the U.S. economy and its workforce.
The states’ embrace of the NAIC annuity transaction suitability framework comes as experts are raising broader questions about the durability of the SEC’s Regulation Best Interest, on which the insurance standards are partly based.
Sources say there is a good chance Boston Mayor Marty Walsh will be confirmed by the full U.S. Senate Monday afternoon, but they are less sure about the timing of SEC Chair nominee Gary Gensler’s confirmation vote.
The department says it will not pursue enforcement actions against any plan fiduciary for failure to comply, and it plans to release further guidance on the issues.
The prescheduled phase-out of the coronavirus disaster declaration had created a ‘compliance conundrum,’ which the DOL has now addressed by issuing additional guidance.
The ongoing implementation of Regulation Best Interest gets top billing in the SEC’s recently published 2021 examination priorities list, though recent evidence suggests the regulator’s focus on share class disclosures remains a chief concern.
In the coming days, the agency will publish related guidance for retirement investors, employee benefit plans and investment advice providers.
A court filing cites the change in administration as the reason for backing out of the suit.