Not one, not two, but three former chairs of the Securities and Exchange Commission (SEC) want the agency they ran to join the effort to set a fiduciary rule. They made their remarks at a TD... Read More
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Fiduciary Governance
BY NAPA Net Staff | 9/29/2015
Sen. Elizabeth Warren (D-Mass.) has expressed concerns about conflicts of interest in a study critical of the Labor Department’s fiduciary proposal — and that has forced the resignation of one of its... Read More
BY Nevin E. Adams, JD | 8/18/2015
When it comes to workplace retirement plans, there are three kinds of people: people who are ERISA fiduciaries and know it, people who aren’t ERISA fiduciaries and know it, and people who are ERISA... Read More
BY Nevin E. Adams, JD | 8/4/2015
While the comment letters opposing the Labor Department’s fiduciary proposal tend to be more “provocative” (particularly those submitted by “anonymous”), a fair number of the more than 900 comments... Read More
BY Nevin E. Adams, JD | 7/28/2015
Among the more than 800 comment letters filed on the Labor Department’s fiduciary proposal is one from a fellow federal agency that claims that it fails to adequately estimate the cost or the number... Read More
BY NAPA Net Staff | 7/27/2015
Expressing concerns that the Labor Department’s fiduciary proposal is “…motivated by an insatiable desire to reengineer the retirement services industry and control the mode and manner that Americans... Read More
BY John Iekel | 7/22/2015
The Pushmi-Pullyu, a two-headed animal character from author Hugh Lofting’s Doctor Dolittle series of children’s books, does not actually exist. But the back-and-forth over the Department of Labor’s... Read More
BY NAPA Net Staff | 7/21/2015
The American Retirement Association (ARA) has submitted its comment letter to the Department of Labor (DOL) on the fiduciary rule re-proposal.ARA has long supported aligning the interests of... Read More
BY NAPA Net Staff | 7/20/2015
A new evaluation paints a gloomy picture of the aftermath of the Labor Department’s fiduciary proposal.The comment letter, submitted on behalf of a number of financial services firms and broker... Read More
BY NAPA Net Staff | 7/20/2015
The Financial Industry Regulatory Authority (FINRA) says that the Labor Department’s fiduciary proposal represents a “fractured approach” that will “confuse retirement investors, financial... Read More
BY NAPA Net Staff | 7/8/2015
Fitch Ratings says that the proposed regulations from the U.S. Department of Labor “could drive significant revamps of business practices for many registered investment advisors and the financial... Read More
BY NAPA Net Staff | 6/5/2015
For those keeping score at home, a total of 36 individuals and organizations submitted comments on the DOL’s April 14 fiduciary proposal during the first month of the comment period.The DOL’s... Read More
BY NAPA Net Staff | 6/4/2015
SIFMA unveiled a best interest standard June 3 — and not to be outdone, the Financial Services Roundtable also called for a uniform client “best interest standard,” while releasing an alternative... Read More
BY NAPA Net Staff | 6/3/2015
Imagine, if you will, a consumer information label on a milk carton...Let’s say that label identifies the biological and physiological considerations of cattle, estimates the working life of the... Read More
BY Michael Bushnell | 5/28/2015
While the spring issue of NAPA Net the Magazine went to print before the Department of Labor released its fiduciary definition proposal, featured columnists Brian Graff and David Levine predicted... Read More
BY NAPA Net Staff | 5/28/2015
The Bipartisan Policy Center convened what at least one participant termed a “policy wonk throwdown” in the nation’s capital May 27. The subject? The Department of Labor’s fiduciary proposal.The... Read More
BY NAPA Net Staff | 5/28/2015
The Labor Department’s fiduciary proposal — or more specifically, its “appropriate standard of care” for brokers and dealers — was the focus of comments by FINRA Chairman and Chief Executive Officer... Read More
BY Fred Barstein | 5/26/2015
While the retirement industry, lawmakers and the courts seem myopically focused on fiduciary issues, the question is what do DC plan sponsors think, and what are they doing in reaction to what seems... Read More
BY Michael Bushnell | 5/15/2015
Attorneys and plan advisors need to proactively educate fiduciaries on how to prevent breaches and errors ahead of time, advises Steff Chalk, suggesting that one possible solution to this challenge... Read More
BY NAPA Net Staff | 5/6/2015
Though it sometimes seems that there are an infinite number of ways in which you can run afoul of fiduciary responsibilities, there are some relatively simple steps that could substantially minimize... Read More
BY Fred Barstein | 5/5/2015
President Obama, supporting the DOL’s new fiduciary rule, stated that the rule had not been updated in 40 years. But think about not only how much technological innovation has occurred in that... Read More
BY NAPA Net Staff | 4/15/2015
The Investment Company Institute says that research relied upon by the Obama administration in supporting its push for an expansion of the “conflicted advice” rule released April 14 is... Read More
BY NAPA Net Staff | 4/7/2015
According to a survey largely comprised of responses from RIAs/IARs, the Department of Labor’s fiduciary proposal wouldn’t be a bad thing — and should be extended to 401(k)... Read More
BY Andrew Remo | 3/26/2015
The Securities and Exchange Commission and Department of Labor are both working on fiduciary issues — but their different approaches appear to be on different schedules.Earlier this week it was... Read More
BY NAPA Net Staff | 3/25/2015
As the Obama administration moves forward with its fiduciary reproposal, a trade organization has published a white paper taking issue with the rationale for making those changes.The Securities... Read More
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