SPARK Releases Updated Data Security Best Practices
Updates were developed by SPARK Institutes data security oversight board, are consistent with the DOL best practices.
Tag: DoL
A DOL ESG Investigation Story
An adviser’s message to his peers is to not fear including ESG factors in investment analysis.
ForUsAll Will Drop DOL Crypto Suit if Court Confirms Prior Guidance is Non-Binding
ForUsAll CEO David Ramirez says the firm offered to drop its lawsuit against the DOL so long as the agency...
Experts: Big Investors, Fiduciaries in “Purgatory” Awaiting DOL ESG Rule
Lack of clarity from the DOL about ESG governance for retirement plans added to a drop in ESG incorporation by...
Compliance News
Legislative and Judicial Actions
The DOL updates auditor independence rules; the IRS extends plans’ amendment deadlines for certain CARES Act and Tax Relief Act...
Growth of Digital Assets Spurs New Regulatory Proposals
As interest in cryptocurrencies for retirement grows, policymakers look for ways to contain the risk of digital assets without limiting...
Proposed Independent Contractor Rules Could Bring Difficulties for Some Financial Advisors
The proposal would make it easier for workers to classify themselves as employees, as opposed to independent contractors, which could...
ERISA Industry Committee Comments in Opposition to New DOL QPAM Rule
The DOL has proposed that QPAMs would be disqualified for 10 years for foreign convictions and for entering into non-prosecution...
Proposed Legislation Would Ban Mandatory Arbitration and Discretionary Clauses
The Mental Health Matters Act would, among other things, ban forced arbitration clauses, class action waivers, discretionary clauses, and representation...
Cybersecurity Experts Warn of Increased Fraud Risk to Retirement Plans
Cybercriminals are becoming more sophisticated and patient in their approach due to the massive payouts fraudsters can manage to steal...
Settlement Reached with Couple that Lost Millions in Profit-Sharing Plan
The pair will pay more than $2 million to settle claims they invested assets in companies in which they had...
What Is the DOL’s Plan If the Government Shuts Down?
Like most organs of the federal government, the Labor Department maintains an explicit policy for government shutdowns as a consequence...
DOL Extends Comment Period, Sets Hearing on QPAM Exemption Amendment
The complexity of the proposed reforms to the qualified professional asset manager exemption has given some experts pause.
DOL Sues Couple, Alleges They Lost Millions in Profit-Sharing Plan
A prominent New Jersey couple faces allegations that they invested plan assets in companies in which they had significant financial...
DOL Updates Guidance on Audit Independence Rules
Labor Department leadership says the update is designed to expand retirement plans’ access to highly qualified auditors and audit firms.
Union Pension in Puerto Rico Latest to Receive PBGC Relief
With its latest relief payment, the Pension Benefit Guaranty Corporation has now distributed more than $7.5 billion to stressed union...
DOL Announces Fiduciary Responsibilities Seminar in Dallas
The agency says compliance can be challenging for small and medium-sized employers who have limited time, resources and access to professional help.
Is the Qualified Professional Asset Manager Exemption in Jeopardy?
One expert attorney says that while a recent regulatory proposal issued by the DOL seems sensible, as it seeks to...
DOL Proposes Qualified Professional Asset Manager Exemption Changes
The Labor Department’s proposed amendment to a widely utilized prohibited transaction exemption is meant to ensure the exemption continues to...
PBGC Issues Final Rule for Stressed Union Pension Payments
To date, the Pension Benefit Guaranty Corporation’s multiemployer pension support program has operated on an interim rule and has protected nearly 130,000 individuals’ pension benefits across some 560...