Compliance May 8th, 2023 SEC Charges Pinnacle Advisors With Liquidity Rule Violations The SEC complaint says Pinnacle knowingly mispresented the liquidity of some assets to satisfy liquidity requirements.
Compliance May 8th, 2023 SEC Swing-Pricing Rule Would Make Participants Second-Class Investors The president and COO of Nationwide Financial argues the rule would be bad for retirement plan and annuity product investors.
Compliance May 7th, 2023 Desantis Bans ESG Consideration in Florida’s Investment Decisions The governor sees Florida as a trendsetter in how states can prohibit and ban ESG in state funds.
Compliance May 5th, 2023 SEC Safeguarding Rule Would Expand Investment Oversight to Crypto, Artwork A proposed rule whose comment period ends Monday would have advisers obtain written agreements that segregate client assets to protect...
Compliance May 1st, 2023 Senator Cardin Announces 2024 Retirement The Maryland senator was a leader in drafting and passing SECURE 2.0 legislation.
Compliance May 1st, 2023 House Bills Would Expand Accredited Investor Pool to Include Clients of Advisers The House Committee on Financial Services advanced a bill that would allow RIA clients to invest in unregulated offerings such...
Compliance April 29th, 2023 Judge Dismisses Excessive Fee Complaint Against HR Firm TriNet The 2020 retirement lawsuit alleged that the plan committee did not properly monitor recordkeeper and investing fees.
Compliance April 28th, 2023 House Committee Unanimously Approves Bill Requiring SEC to Study Size Cutoff for Advisory Firms The Small Entity Update Act requires the SEC to revisit the ‘small entity’ definition of advisory firms every five years.
Compliance April 27th, 2023 GOP Budget Plan Calls For Spending Cuts That Would Include Social Security Administration The bill that passed the House yesterday would threaten delays in Social Security payments, according to an industry lobby group.
Compliance April 26th, 2023 DCIIA Publishes Guide to Fiduciary Models The report educates plan sponsors on distinctions between 3(16), 3(21) and 3(38) fiduciaries.
Compliance April 26th, 2023 Senate HELP Committee Advances Su’s Nomination on Partisan Lines No floor vote has been scheduled for the confirmation of the acting Secretary of Labor, who faces Republican opposition.
Compliance April 24th, 2023 Proposed Bill Would Allow CITs in 403(b) Plans 403(b) plan advisers may have their patience rewarded with a potential bill to allow CITs is on the table.
Compliance April 21st, 2023 Execution Quality Disclosure, Tick-Size SEC Proposals Enjoy Industry Support Mandatory auctions and Reg BE are considerably less popular.
Compliance April 20th, 2023 SEC Updates Guidance on Adviser Investment Obligations The latest guidance adds teeth to initial Regulation Best Interest, passed in 2019.
Compliance April 20th, 2023 Acting Labor Secretary Su Says SECURE 2.0 Guidance Coming in “Timely Manner” Committee to consider Su's confirmation to replace Marty Walsh, who left the DOL in February.
Compliance April 20th, 2023 At House Committee, SEC Swing Pricing Proposal Comes Under Fire Gensler defended the SEC’s recent proposals on subjects such as climate disclosure and swing pricing.
Compliance April 18th, 2023 Betterment Pays SEC $9M for Misstatements Regarding Tax Loss Harvesting The digital advice and IRA provider agreed to pay the fines without admitting or denying wrongdoing.
Compliance April 14th, 2023 Commenters Urge SEC to Implement Market Proposals Sequentially The growing chorus of caution now includes the Department of Justice.
Compliance April 14th, 2023 Proposed Bill Would Tie $150 Million RIA Registration Threshold to Inflation The Small Business Investor Capital Access Act, introduced this week, would increase the registration exemption from $150 million by tying...
Compliance April 12th, 2023 Gensler to Testify at House Oversight Hearing Next Week Items such as the SEC’s market structure and cybersecurity proposals are likely targets for questioning, as is the SEC’s climate...