The Financial Industry Regulatory Authority (FINRA) imposed a $950,000 fine on LPL Financial LLC for supervisory deficiencies related to the sale of various alternative investment products.
Judging whether conflict of interest rules permit an adviser to recommend rollovers—under both current law and the pending fiduciary redefinition—hinges on three important considerations.
The Internal Revenue Service (IRS) has modified Revenue Procedure 2013-22, which sets forth procedures for issuing opinion and advisory letters for § 403(b) pre-approved plans.
Ever wonder why so many different regulators are voicing concern over employer-sponsored retirement plan account rollover practices—especially rollovers into individual retirement accounts (IRAs)?
Aggregated qualified retirement plan audit data from the Department of Labor (DOL) shows that, of the 3,677 investigations closed in 2013, violations were found nearly 73% of the...
Retirement advice professionals must confront some acute challenges in the months and years ahead to ensure their ability to support clients—and grow their own firms—remains intact.
A group of retirement industry representatives recently sent a comment letter to the National Technical Information Service (NTIS) emphasizing the need for uninterrupted access to the Social Security...
The Securities and Exchange Commission (SEC) released the schedule for this year’s Regional Compliance Outreach Program for financial and compliance professionals working with broker/dealer firms.
Retirement plan sponsors can outsource much of the work involved in filling out and filing annual Form 5500s, but they’re still responsible for the results.
Small plans must be given more latitude to mimic their larger counterparts if the nation is to adequately fund its retirement needs, says Kristi Mitchem, of State Street...
The DOL’s fee data proposal is fairly straightforward, but could trigger a prohibited transaction, says Bruce Ashton, a partner in Drinker Biddle & Reath’s Los Angeles office.
A group of 26 members of the U.S. House of Representatives, known as the Congressional Hispanic Caucus, threw its support behind expanded fiduciary rules pending from the Department...