Tag: Department of Labor (DOL)
DOL Announces Anticipated ESG Fiduciary Investing Rule
Agency leaders say the principal idea of the new proposal is that climate change and other ESG factors can be financially material and, when they are, considering them...
Social Security Benefits Will Grow 5.9% in 2022 Amid Renewed Inflation Concerns
The important federal benefit increases when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers,...
Court Rebuffs DOL’s ESOP Valuation Case Against Engineering Firm
One commentator who works in the employee stock ownership plan space says the ruling represents “one of the most comprehensive rebukes of DOL arguments” in such a valuation...
PANC 2021: Investigation Lessons Learned From Experience
One tip is that being in a state of audit-readiness is essential for retirement plan advisers and their plan sponsor clients—both for peace of mind and to make...
DOL, IRS and PBGC Call for Comments on Form 5500 Revisions
In addition to asking for input on the SECURE Act’s requirements and the current Form 5500, the DOL has published a notice of proposed changes to its implementation...
SEC Sanctions Offer New Cybersecurity Guideposts
One former SEC enforcement leader says actions against several advisory firms that allegedly had cybersecurity failures make a clear case...
Order Sanctions Fiduciary Who Diverted Millions From Clients
A DOL investigation and legal pursuit that have spanned the better part of two decades have drawn to a close,...
Consumer Protection Motivates Barbara Roper’s Move to SEC
SEC Chair Gary Gensler says her focus as a senior adviser will be on issues relating to retail investor protection, including broker and adviser oversight and examinations.
Compliance Consult
Cybersecurity and ERISA
DOL guidance should prompt clients to ask for help with compliance.
Compliance News
Legislative and Judicial Actions
Financial assistance for multiemployer plans; faith-based entities may now benefit from the public student loan forgiveness program; FINRA project examines...
ESG and Shareholder Rights Rule Under White House Review
The language of the regulation has not yet emerged, but the title published by the Department of Labor suggests it will address both ESG and proxy voting matters.
An ESG Refresher as DOL Makes Progress on New Regs
Industry experts are watching for the imminent filing of new Department of Labor regulations pertaining to the use of environmental,...
DOL Promises Final Rule on Lifetime Income Illustrations As Soon As Practicable
The agency clears up timing questions in a FAQs document and says it realizes the concerns about timing if its...
Dissecting TIAA Subsidiary’s $97 Million SEC Rollover Settlement
A subsidiary of TIAA will settle conflict of interest charges related to the provision of rollover advice to employer-sponsored retirement...
DOL Addresses Question About Providing Audio Recordings to ERISA Claimants
The requirement to produce requested documents and the definition of relevant documents addressed in a DOL information letter applies to...
A DOL Fiduciary Rule and PTE Refresher
No matter if an adviser is a flat-fee registered investment adviser or a commission-based broker/dealer, the DOL says the collection...
A Well-Informed Look at the EBSA’s Terminated Vested Participant Project
Justine Kim worked as a DOL investigator from 2006 to 2018. In this guest article, she offers tips for advisers...
Compliance Consult
Caution Needed Regarding Rollovers
Many recommendations may now be investment advice.