The Senate Banking Committee voted unanimously Nov. 1 to approve Hester Peirce and Robert Jackson, Jr. as members of the Securities and Exchange Commission. Their nominations will now move to the... Read More
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Regulatory Agencies
BY John Ortman | 10/25/2017
Where does the DOL's fiduciary rule stand? What might we expect in the future? ERISA attorney Fred Reish provided an update on the former and shared his thoughts on the latter in an Oct. 24 workshop... Read More
BY Nevin E. Adams, JD | 10/16/2017
The Labor Department continues to fight an attempt by at least one fiduciary rule opponent to pursue its case in court.In an Oct. 13 filing, the DOL repeated its request that the court grant its July... Read More
BY NAPA Net Staff | 10/13/2017
President Trump has officially announced his intent to nominate Preston Rutledge to be an Assistant Secretary of Labor, Employee Benefits Security Administration.Rutledge currently serves as senior... Read More
BY Ted Godbout | 10/11/2017
A published report says the Trump administration is prepared to nominate a new Assistant Secretary for the Department of Labor’s Employee Benefits Security Administration (EBSA).Politico Pro says... Read More
BY NAPA Net Staff | 10/5/2017
Securities and Exchange Commission Chairman Jay Clayton reiterated on Oct. 4 that he is “focused on the standards of conduct” for investment professionals. He made his remarks in testimony before the... Read More
BY NAPA Net Staff | 9/27/2017
Noting that the effects of the Labor Department’s fiduciary rule “extend well beyond the DOL's jurisdiction,” the Chairman of the Securities and Exchange Commission told lawmakers the SEC is working... Read More
BY NAPA Net Staff | 9/15/2017
The SEC’s Office of Compliance Inspections and Examinations has issued a risk alert highlighting compliance issues with advisers’ communication of performance results, recommendations and accolades.... Read More
BY NAPA Net Staff | 9/1/2017
Labor Secretary Alexander Acosta will meet Sept. 5 with representatives of companies that oppose the Obama administration’s fiduciary rule, according to a published report.Politico Pro, citing two... Read More
BY John Iekel | 8/31/2017
Less than 24 hours after the American Retirement Association requested it, the IRS has granted relief to taxpayers affected by Hurricane Harvey.The relief provided in IRS Announcement 2017-11 matches... Read More
BY Nevin E. Adams, JD | 8/31/2017
The Labor Department says it won't enforce a provision of the fiduciary rule’s arbitration ban.The stance, published August 30 in Field Assistance Bulletin 2017-03, was first revealed in a brief... Read More
BY Nevin E. Adams, JD | 8/29/2017
The Office of Management and Budget (OMB) has made a quick response to the Labor Department’s request for a delay in the full BIC applicability date.In an update posted on the OMB site on August 28,... Read More
BY Nevin E. Adams, JD | 8/28/2017
In a written response to a judge in litigation involving the fiduciary rule’s anti-arbitration provision, the Labor Department says the provision will “likely be mooted in the near future.”The letter... Read More
BY NAPA Net Staff | 8/25/2017
The Department of Labor has removed a regulations project from its previously published DOL regulatory agenda list.The Aug. 24, 2017 Federal Register includes a notice of modification to the... Read More
BY Ted Godbout | 8/23/2017
A Los Angeles investment adviser was charged this week by the Securities and Exchange Commission (SEC) with defrauding a high-profile professional athlete and the athlete’s wife by deceiving them... Read More
BY NAPA Net Staff | 8/21/2017
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) has extended until the end of this month the deadline to submit nominations to serve on the ERISA Advisory Council.The... Read More
BY Nevin E. Adams, JD | 8/10/2017
The Labor Department submitted a proposal to the Office of Management and Budget (OMB) on Aug. 9 to extend the transition period and full BIC applicability date of the fiduciary regulation.The notice... Read More
BY Nevin E. Adams, JD | 8/7/2017
The fiduciary regulation got another day in court last week – and, for a change, this time the regulation’s challengers appeared to draw blood.The setting was oral arguments before the 5th Circuit... Read More
BY Craig Hoffman | 8/4/2017
The Labor Department has issued a new set of FAQs on the fiduciary regulation that embrace the recommendations made by the ARA/NAPA Government Affairs Committee (GAC) in a recent comment letter.To... Read More
BY Ted Godbout | 8/3/2017
Exams of investment advisers by the Securities and Exchange Commission (SEC) reportedly could increase by more than 30% this year, according to Pete Driscoll, Acting Director of the SEC’s Office of... Read More
BY NAPA Net Staff | 7/31/2017
The Treasury Department announced July 28 that it will begin winding down the myRA program. Treasury’s action, which will end the program started in 2014, comes after a review of the program and its... Read More
BY Nevin E. Adams, JD | 7/28/2017
The Labor Department has filed for a stay of proceedings in litigation challenging the fiduciary regulation.“Here, a stay of proceedings would be the most efficient use of judicial resources,” the... Read More
BY NAPA Net Staff | 7/18/2017
Roughly two weeks after announcing its intention to back off on support of a provision in the Best Interest Contract Exemption (BICE) restricting class litigation waivers, the Labor Department has... Read More
BY John Iekel | 7/13/2017
“It is important that the Commission make all reasonable efforts to bring clarity and consistency” to “standards of conduct that investment professionals must follow in providing advice to Main... Read More
BY Nevin E. Adams, JD | 7/5/2017
The comment period on the fiduciary rule request for information (RFI) is short – just 15 days – and we now know when it begins: Thursday, July 6.Politico Pro reports that the Labor Department plans... Read More
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