Compliance December 12th, 2022 New Modifications Released for Forms 5500 and 5500-SF The document changes were the same for administrative penalties, but also contained differences.
Compliance December 9th, 2022 Bipartisan Group Introduces Bill for Portable Federal Retirement Accounts Legislation would establish a new program to give eligible workers access to portable, tax-advantaged accounts.
Compliance December 9th, 2022 LPL Advisers Overwhelmingly Support SECURE 2.0 Even as Timeline for Passage Tightens On the same day Senator Rob Portman, a retirement-legislation leader, gave his farewell speech, a survey from the massive independent...
Compliance December 8th, 2022 District Court Dismisses Two ERISA Lawsuits Challenging BlackRock TDFs A series of lawsuits brought against plan sponsors that use the BlackRock funds as their QDIA received a setback last...
Compliance December 7th, 2022 Congress Nears Passage of RILA Registration Legislation The proposed legislation would greatly simplify the process by which the annuities are registered by providing for tailored registration forms.
Compliance December 6th, 2022 Experts: More Hackers Going After Retirement Savings Cybersecurity experts say they see an increase in theft of participant data from retirement plans, and warn about scams in...
Compliance December 6th, 2022 SEC and Goldman Sachs Settle for $4 Million for ESG Policy Infractions. GSAM did not follow its own policies in selecting funds with ESG label despite appealing to those policies in promotional...
Compliance December 2nd, 2022 SEC Climate Disclosure Rules Find Republican Opposition in Both Houses An SEC proposal to require certain disclosures related to climate change and carbon emissions is facing Republican opposition in the...
Compliance December 2nd, 2022 U.S. Regulator Urges Congress to Act Fast on Crypto Regulation CFTC Chairman says digital asset marketplaces should be regulated with tactics such as needing to register with federal overseers.
Compliance December 1st, 2022 Wait, SECURE 2.0 Might Not Pass? The legislative package may be running out of time, suggested Senator Ben Cardin at the EBRI Retirement Summit.
Compliance November 30th, 2022 DOL Extends Comment Period for Independent Contractor Rule The proposed rule could affect thousands of independent financial advisers who prefer to be classified as independent contractors, rather than...
Compliance November 30th, 2022 Advisers Should Comment, Prepare Vendor List Ahead of SEC Outsourcing Rule Investment and retirement advisers—especially smaller shops—should take the time remaining to provide their feedback about the SEC’s proposed outsourcing rule,...
Compliance November 29th, 2022 What Do the Mid-Terms Mean for ESG and SECURE 2.0? ESG-minded investors have cause for concern, as Republicans prepare to take control of the House.
Compliance November 29th, 2022 Judge Dismisses Charge of “Unreasonable” 401(k) Fees by Electronics-Maker Ricoh A federal district court bounced two fiduciary breach claims brought by participants against Ricoh USA, saying plaintiffs failed “to plausibly...
Compliance November 28th, 2022 DOL Proposes Changes to Voluntary Fiduciary Correction Program The proposal would allow fiduciaries to correct certain transactional mistakes and then notify DOL instead of applying for approval beforehand.
Compliance November 23rd, 2022 DOL Rule Greenlights ESG, But Questions Remain The new final rule seeks to make ESG permissible for ERISA plans, but specific use will still need to play...
Compliance November 22nd, 2022 Judge Recommends Dropping Most of $4.2B Retirement Plan Suit Against Nestlé A U.S. District Court judge sided with Nestlé’s motion to dismiss most of the claims in a 401(k) class action...
Compliance November 22nd, 2022 DOL Finalizes Rule Opening Door to ESG Investing in Retirement Plans The DOL announced a final rule that retirement plan fiduciaries can consider climate change and other ESG factors when selecting...
Compliance November 22nd, 2022 S&P Global Settles Mortgage-backed Security Case with SEC Ratings agency agrees to $2.5 million fine over charges its sales and marketing team influenced analytics.
Compliance November 21st, 2022 SEC Collects Record $6.44B On 760 Enforcement Actions in Fiscal 2022 The regulator raked in close to $4.2 billion in civil penalties, nearly three times the $1.46 billion collected the previous...