Inquiries from the Employee Benefit Security Administration regarding plan investments in ESG options are a national focus—motivated by concerns about how those options are being promoted.... Read More
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Regulatory Agencies
BY Nevin E. Adams, JD | 6/17/2020
[UPDATED JUNE 16, ADDING A LINK TO THE LETTER]
The New York Regional Office of the Employee Benefit Security Administration is said to be seeking a long list of information from plans with ESG... Read More
BY Ted Godbout | 6/17/2020
Amid the fast-approaching Reg BI and Form CRS compliance date, SEC Chairman Jay Clayton reminded stakeholders of the need for increased care when making 401(k) rollover and withdrawal recommendations... Read More
BY NAPA Net Staff | 6/17/2020
The U.S. Department of Labor has just announced its Request for Information (RFI) on Prohibited Transactions involving Pooled Employer Plans (PEPs) under the Setting Every Community Up for Retirement... Read More
BY Ted Godbout | 6/15/2020
The U.S. Small Business Administration, in consultation with the Treasury Department, has issued new guidance providing important clarifications for those taking advantage of the Paycheck Protection... Read More
BY John Iekel | 6/11/2020
The American Retirement Association has provided the Department of Labor with some comments on dealing with potential issues regarding Pooled Employer Plans and Pooled Plan Providers... Read More
BY Ted Godbout | 6/3/2020
If you were wondering what the Labor Department was planning to do about its reported revision of the fiduciary rule, wonder no more; a proposal has just been submitted to the Office of Management... Read More
BY Ted Godbout | 6/3/2020
Allowing private equity investments in professionally managed funds within 401(k)s—an idea that has been promoted by some for the better part of the past decade—has been given the stamp of... Read More
BY Nevin E. Adams, JD | 6/2/2020
While you were firing up the barbeque last Friday, the Labor Department dropped off a proposed rule titled “Financial Factors in Selecting Plan Investments.”
It’s not immediately clear what the... Read More
BY Ted Godbout | 5/28/2020
UPDATED JUNE 1 at 4:00 P.M.
Preston Rutledge, head of the DOL’s Employee Benefits Security Administration, is set to leave the agency at the end of this week, but so far, a replacement has not... Read More
BY Ted Godbout | 5/18/2020
Amid the ongoing upheaval caused by the COVID-19 pandemic, the self-regulatory organization is reminding broker-dealers and associated persons to be cautious of the increased risks for fraud.... Read More
BY Ted Godbout | 5/14/2020
While much of the government is working from home, the Labor Department has dropped off its proposal for a Request for Information on Pooled Employer Plans at the Office of Management and Budget... Read More
BY Ted Godbout | 4/28/2020
The Securities and Exchange Commission announced April 24 that it has established an internal, cross-divisional group to assist in monitoring markets, issuers and investors. ... Read More
BY NAPA Net Staff | 4/23/2020
Assistant Secretary of Labor Preston Rutledge is planning to leave his post at the end of May.
Rutledge was nominated to the post in October 2017 by President Trump. He was confirmed by voice vote... Read More
BY Ted Godbout | 4/3/2020
The Securities and Exchange Commission has put to rest any rumors that it might delay the compliance date for its Regulation Best Interest package of rulemaking.
Rumors had been circulating... Read More
BY John Iekel | 3/26/2020
The Advisory Council on Employee Welfare and Pension Benefit Plans has released a report that addresses improving the financial statement audit process.
The report comes after review by the... Read More
BY John Iekel | 3/16/2020
The DOL’s Advisory Council on Employee Welfare and Pension Benefit Plans has released a report addressing transfers of uncashed distribution checks that ERISA plans issue to state unclaimed property... Read More
BY NAPA Net Staff | 3/2/2020
The details of a shift in process review by the IRS first reported by the American Retirement Association were “the elephant in the room” at a Joint TE/GE Council Employee Plans & Exempt... Read More
BY NAPA Net Staff | 2/25/2020
Driven by an apparent desire to clean up its case backlog, the IRS is planning a shift in procedure that might mean the end of the VCP program and subject a massive number of plans to audit.
Word... Read More
BY Ted Godbout | 1/29/2020
Recognizing that there is no such thing as a “one-size fits all” approach, the SEC has published guidance to help firms in the securities market enhance their cybersecurity preparedness and... Read More
BY NAPA Net Staff | 1/24/2020
The DOL’s Employee Benefits Security Administration just made it easier to find information about the status of an individual retirement plan and its operations, releasing an enhanced search tool for... Read More
BY Ted Godbout | 1/17/2020
Securities and Exchange Commissioner Robert Jackson, Jr. has indicated that he plans to leave the SEC next month.
Jackson, one of the two Democratic commissioners at the SEC, said Jan. 16... Read More
BY Ted Godbout | 1/14/2020
Gearing up for the June 30, 2020 compliance date, the Securities and Exchange Commission has published a series of responses to frequently asked questions (FAQs) about its Regulation Best Interest.... Read More
BY Ted Godbout | 1/10/2020
RIAs that have never been examined and those that have not been examined for several years will be of particular interest to the Securities and Exchange Commission in 2020.
In the newly... Read More
BY John Iekel | 1/9/2020
The IRS said in a recently issued private letter ruling (PLR) that a retirement plan offered by a charity that is affiliated with a church is a church plan.
In PLR 202001008,... Read More
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