Compliance September 27th, 2023 SEC Would Suspend Rulemaking, Enforcement During Potential Shutdown Comment periods would remain open for the AI and safeguarding proposals, but comments would not be reviewed in real time.
Compliance September 27th, 2023 Fund Advisers Reject SEC Aiding and Abetting Charges The adviser for a mutual fund argues against alleged Liquidity Rule violations because the company was not responsible for the...
Compliance September 25th, 2023 Social Security COLA Projected at 3.2% Ahead of October Decision The Social Security Administration will officially announce the adjustment rate on October 12, and it is projected at less than...
Compliance September 25th, 2023 10th Circuit’s ‘Meaningful Benchmark’ Ruling Will Not Stymie Lawsuits, Experts Says Five circuit courts have now heightened the standard for 401(k) participant lawsuits, but ERISA attorneys do not expect lawsuits challenging...
Compliance September 25th, 2023 Private Fund Adviser Fined $1.6M for Duty of Care Violations The infrastructure fund allegedly did not disclose conflicts of interest and took actions without regard for their impact on investors.
Compliance September 22nd, 2023 Judge Upholds DOL ESG Rule A Texas judge, appointed during the Trump administration, ruled that the DOL does not violate ERISA by permitting ESG in...
Compliance September 21st, 2023 Lawmakers Look to Shield Student Loanees From Garnishment of Social Security Benefits With student loan payments set to resume, Democrats in Congress proposed a bill last week that would prevent the government...
Compliance September 20th, 2023 Funds’ Portfolios Must Reflect Their Name, SEC Says New rule means funds will have to derive 80% of their value from investments related to their official names.
Compliance September 19th, 2023 Scope of AI Conflicts Proposal Finds New Opponents on the Hill Members of both parties have criticized the SEC’s definition of ‘covered technology’ when it comes to using AI in financial...
Compliance September 15th, 2023 When Attorney-Client Privilege Applies Under ERISA If communications concern plan assets, they may be discoverable during litigation.
Compliance September 14th, 2023 SEC’s Risk Alert Worth Close Look Amid ‘Bevy’ of New Rules, Charges Compliance experts point to the regulator’s focus on third-party providers and its marketing rule stringency in the recent exam notice.
Compliance September 14th, 2023 Swing Pricing Proposal on Shaky Ground as Bipartisan Opposition Solidifies Of all the SEC proposals facing pushback, the swing pricing proposal for mutual funds is taking the most heat from...
Compliance September 14th, 2023 American Airlines Asks Judge to Toss 401(k) ESG Complaint The airline's motion maintains that former pilot has no standing in ESG investing lawsuit, including an amended complaint that sought...
Compliance September 13th, 2023 Low Birth Rates Are Not the Main Threat to Social Security Insolvency Income inequality is a greater threat, according to the Social Security Administration’s chief actuary.
Compliance September 12th, 2023 Congress, Industry Push Back on SEC’s AI, Safeguarding Rule Proposals The proposal would require advisers to eliminate conflicts related to a wide range of computational technology.