Compliance
Fiduciary Proposal Comment Period Ends With More Mixed Feedback
The IAA and Morningstar offered conditional support to the Department of Labor’s proposal and the ACLI called for a full...
American Securities Association Says DOL Acting Secretary Cannot Finalize Fiduciary Proposal
The trade organization challenged the DOL’s proposal on several grounds, including that an acting cabinet secretary cannot finalize a rule.
IRS Notice Clarifies SECURE 2.0 Automatic Enrollment, Tax Credits, Other Features
The grab-bag notice also provided guidance on de minimis incentives, distributions for the terminally ill and Roth matching.
IRS 2023 Changes List for Pre-Approved Plans Is Out
The list contains many SECURE 2.0 provisions, but includes amendments stemming from other laws as well.
SECURE 2.0 Provisions Advisers Need to Know in 2024
Groom Law Group, Chartered, compares current retirement provisions with new ones that take effect in 2024.
Empower, SPARK Push Back Against Fiduciary Proposal
Their concerns arise from the wide range of sales conversations that take place between recordkeepers and plan sponsors and the...
Appeals Court Sets Aside Share Repurchase Disclosure Rule
The SEC could not meet a 30-day deadline to correct issues in the rule.
Debating the Fiduciary Proposal: Pros and Cons
Two industry players debate issues surrounding rollovers, annuity sales, and access for smaller accounts.
Former Maryland Governor Martin O’Malley Confirmed as SSA Commissioner
O’Malley says he will set his focus on employee morale and improving Social Security Administration response time.
House Judiciary Committee Issues Subpoenas to BlackRock, State Street for ESG Documents
The Republican-controlled committee alleges collusive behavior against the fossil fuel industry by asset managers participating in climate-related initiatives.
IRS Publishes Revised Form 8881
The one-page form marks the symbolic start of SECURE 2.0’s enhanced tax credits for small business retirement plan startups.
SEC Suggests Retirement Assets Should Not Count Toward Accredited Investor Threshold
The regulator’s report on the accredited investor definition noted that many only qualify because of their DC plan assets.
Clorox Seeks Dismissal of 401(k) Forfeiture Complaint
The company argues in the filing that its fiduciaries followed IRS guidance on how unused retirement assets can be used.
Credit Suisse Fined $10M by SEC for Not Properly Reporting State-Level Infraction
The bank had previously been cited by New Jersey for making misleading statements to investors but did not seek relief...
Treasury Secondary Transaction Rule Finalized by SEC
The rule requires more trades to be centrally cleared and is intended to improve market transparency and liquidity.
Adviser, Planner Communities Give Qualified Support for Fiduciary Proposal
The highly controversial proposal from the DOL has received support from major industry actors, including the CFP Board and FPA,...
Litigation Trends to Watch in 2024: Drop in TDF Suits, More Forfeiture Complaints
Attorneys from Faegre Drinker Biddle & Reath LLP discuss qualified retirement plan litigation trends for the new year.
Fiduciary Rule Proposal Faces 1st Day of Dissent, Advocacy
The DOL’s Retirement Security rule is seen as overbearing by some, necessary by others.
DOL, IRS Announce Spring Regulatory Agendas
The agendas contain important updates on fiduciary corrections and ESOP valuation.