Compliance March 15th, 2023 SEC Reopens Comment Period for Proposed Cybersecurity Rules The rules from the February 2022 proposal include new recordkeeping requirements, and industry actors requested more time to review them.
Compliance March 15th, 2023 LinkedIn Will Pay Out $6.75 Million for 401(k) Participant Complaint The firm was hit with a complaint for allegedly keeping a Fidelity fund without moving to options that were less...
Compliance March 14th, 2023 Complying With SEC Marketing Rule: Don’t Say What You Can’t Prove SEC officials and compliance experts say that proving statements of fact should be at the top of advisers’ to-do list...
Compliance March 13th, 2023 SEC’s Uyeda Expresses Concern about SEC Overreach Republican commissioner specifically mentioned the new outsourcing rule, pay-to-play enforcement and compliance periods for SEC rules.
Compliance March 10th, 2023 White House Budget Proposal Increases Funding for DOL Enforcement Actions President Joe Biden’s proposal for fiscal 2024 also provides Social Security Administration, IRS with more money to improve customer service.
Compliance March 9th, 2023 Biden’s 2024 Budget Proposes Certain Investment-Related Taxes The president’s budget increases various taxes such as those on capital gains for millionaires and stock buybacks.
Compliance March 8th, 2023 EBSA Announces Three-Part Webinar Series on Fiduciary Duties The webinars will cover retirement plans and group health plans.
Compliance March 8th, 2023 Senators Propose Legislation to Encourage Social Security Literacy The legislators want to increase the clarity and number of paper statements workers receive from the Social Security Administration to...
Compliance March 8th, 2023 Managing Investment Risk in Chinese Assets An expert panel hosted by CII discussed the risks of investing in China and what it means for retirement plan...
Compliance March 7th, 2023 Five New Members Added to ERISA Advisory Council The five new members join the Council, totaling 15 members, who give advice to the DOL on ERISA regulatory matters.
Compliance March 7th, 2023 401(k) Participant Drops Data Breach Suit Against Transamerica Class action plaintiff complaint files a motion to dismiss the suit against the retirement recordkeeper.
Compliance March 6th, 2023 Gensler Says SEC Agnostic On Green Investing, Seeks Improved Disclosure The SEC chair told a room of institutional investors that the regulator is “merit neutral” on how investors use climate-related...
Compliance March 3rd, 2023 Senators Propose Repealing Social Security Cuts to Public Pensioners The Social Security Fairness Act would repeal two provisions that reduce payments to many retirees collecting public pensions.
Compliance March 1st, 2023 Senate Joins House in Refuting DOL’s ESG Rule A resolution to nullify the DOL's rule permitting ESG investing in retirement plans will now go to President Joe Biden,...
Compliance March 1st, 2023 What Resumption of Student Loan Payments Would Mean for Employers With pundits saying the Supreme Court will likely strike down student debt forgiveness, employers and providers are getting ready to...
Compliance February 28th, 2023 House Passes Resolution to Repeal DOL 401(k) ESG Rule The resolution catalyzes the debate over whether to allow ESG investing considerations in retirement savings plans, with the Senate next...
Compliance February 28th, 2023 EBSA Head Says Disclosure, SECURE 2.0, ESG Are Key Priorities EBSA’s Lisa Gomez identified upcoming regulatory priorities related to SECURE 2.0 and the importance of effective disclosure at a conference...
Compliance February 28th, 2023 IRS Proposes Rules That Require Retirement Forfeitures Be Used in 12 Months A new IRS proposal formalizes guidelines on how plan administrators should manage and use retirement plan forfeitures.
Compliance February 27th, 2023 IRI to Push for Annuities as Default Retirement Investment Option in ‘23 The retirement insurance industry group is calling for legislation that would do away with a liquidity feature that limits certain...
Compliance February 24th, 2023 DOL Updates Form 5500 for 2023 This year’s changes include reporting modifications for PEPs and small plans.