Compliance August 3rd, 2023 PBGC Reports Program Solvency and Surplus Industry experts seek scaling back of premiums as the pension insurance agency expects to remain solvent long into the future.
Compliance August 3rd, 2023 Plaintiff Drops Fidelity, Financial Engines from American Airlines ESG Lawsuit The plaintiff voluntarily dismissed the two of four defendants from the lawsuit that claims ESG factors were considered ahead of...
Compliance August 1st, 2023 Florida Man Buys Massive Black Diamond with Ill-Gotten Crypto Gains, SEC Says The SEC alleges that Richard Heart offered unregistered cryptocurrency and spent investor assets on personal luxury goods.
Compliance July 31st, 2023 SEC Proposal Would Require Elimination of Conflicts When Using AI and Similar Technology The proposal applies to the use of wide range of technologies, including predictive analytics, that might put the firm’s interests...
Compliance July 28th, 2023 SEC Proposes Restricting Internet Adviser Exemption The proposal would require online financial advisers registered with the SEC to conduct business solely through their respective websites, as...
Compliance July 28th, 2023 House Spending Bill Would Block EBSA’s ESG Rule, but Senate’s Would Not Congress has until September 30 to pass a budget bill.
Compliance July 26th, 2023 SEC Requires Public Companies to Disclose Cybersecurity Data Annual reports must include information on the issuer’s cybersecurity management and governance, and they must disclose material incidents within 4...
Compliance July 21st, 2023 Congressional Proxy Voting Reforms Include Changes to Adviser Discretion Among 11 total bills, one would require advisers to either abstain or vote the way their client or the issuer...
Compliance July 20th, 2023 Gensler: SEC Will Continue Enforcement Against Crypto Companies Securities and Exchange Commission Chair Gary Gensler testified that cryptocurrencies are a “highly speculative asset class” and that the crypto...
Compliance July 20th, 2023 The PLANADVISER Interview: Tina Anstett, Senior ERISA Counsel, Smart A senior counsel who consults on ERISA fiduciary issues and IRS and DOL audits discusses the state of artificial intelligence...
Compliance July 19th, 2023 EBSA Mulls Modifying PRT Rules Many stakeholders advised the DOL on how to change fiduciary standards for annuity provider selection.
Compliance July 19th, 2023 MOVEit Hack Brings Vendor Assessment to Forefront SPARK Institute members provide guidance on how advisers can both prepare for and respond to participant data concerns stemming from...
Compliance July 19th, 2023 Industry Group Says Roth Catch-Ups Too Burdensome for 2024 SECURE 2.0 rules expanding catch-up contributions into a Roth source will be a huge undertaking for sponsors and recordkeepers.
Compliance July 18th, 2023 ERISA Advisory Council Highlights Trends in Pension Risk Transfers PRTs are trending upward, but their relationship with private equity and non-traditional investments is drawing more scrutiny.
Compliance July 18th, 2023 Verizon Settles 401(k) Complaint for $30M The agreement is still pending court approval but would end 7-year court case.
Compliance July 17th, 2023 SEC’s Gensler Says AI Can Create Conflicts of Interest The SEC chair said that an AI program that even accounts for the interests of the adviser could present conflicts...
Compliance July 17th, 2023 IRS Issues RMD Relief Related to SECURE Rules The IRS notice provides additional time to rollover mistaken required minimum distributions as well as RMD relief for IRA beneficiaries.
Compliance July 14th, 2023 Congressional Hearings Scrutinize Proxy Voting Republicans accused proxy firms of prioritizing ‘woke’ political agenda ahead of financial considerations.
Compliance July 14th, 2023 Fidelity Latest Victim of MOVEit Hacks via Vendor PBI PBI Research Services announced that more than 371,000 customers at client Fidelity had personal data exposed in the breach.
Compliance July 13th, 2023 Senate, House Spending Bills at Odds on SEC Adviser Proposals The House’s budget bill would block the safeguarding and climate risk proposals, whereas the Senate budget would not.