The American Retirement Association (ARA) is calling on the Department of Labor (DOL) to make changes to its proposed amendments to the QPAM exemption, arguing that, as currently drafted, the... Read More
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Regulatory Agencies
BY Nevin E. Adams, JD | 11/22/2022
The U.S. Department of Labor has unveiled its much-anticipated final ESG rule that it says will allow “plan fiduciaries to consider climate change and other environmental, social and governance... Read More
BY John Iekel | 11/22/2022
The Pension Benefit Guaranty Corporation (PBGC) in its annual report has noted positive developments that took place in the last year, and also is looking to the future with the naming of four... Read More
BY Nevin E. Adams, JD | 11/18/2022
The U.S. Department of Labor has announced that its Employee Benefits Security Administration has proposed some big changes to its Voluntary Fiduciary Correction Program—including a provision long-... Read More
BY Ted Godbout & Nevin E. Adams, JD | 11/17/2022
A proposal by the Securities and Exchange Commission to alter the way open-end funds operate could have a detrimental impact on retirement savers if implemented.
Among other things, under this... Read More
BY Ted Godbout | 11/15/2022
The Securities and Exchange Commission announced that it filed 760 enforcement actions and recovered a record $6.4 billion in penalties and disgorgement for fiscal year 2022.
The total enforcement... Read More
BY Ted Godbout | 11/10/2022
The Treasury Department and IRS recently released their updated 2022-2023 Priority Guidance Plan showing that additional guidance on the SECURE Act, missing participants and student loan payments are... Read More
BY John Iekel | 11/8/2022
The IRS has, effective immediately, expanded the individually designed retirement plan determination letter program to include certain 403(b) plans.
The IRS announced on Nov. 7 in... Read More
BY Ted Godbout | 11/2/2022
Touted as a way to bring greater transparency, the Securities and Exchange Commission has finalized new rules concerning information that investment funds report about their proxy votes and... Read More
BY Ted Godbout | 10/27/2022
The Securities and Exchange Commission has adopted new requirements for the way shareholder reports are presented and transmitted by mutual funds and exchange traded funds (ETFs), as well as... Read More
BY Ted Godbout | 10/26/2022
The Securities and Exchange Commission on Oct. 26 proposed new rules to prohibit registered investment advisers from outsourcing certain services without conducting due diligence and monitoring of... Read More
BY NAPA Net Staff | 10/25/2022
The U.S. Labor Department has extended by 15 days the comment period on its recent independent contractor proposal, after complaints from critics who said the initial time frame for comments was too... Read More
BY Ted Godbout | 10/12/2022
In comments to the Department of Labor (DOL), the American Retirement Association (ARA) argues that proposed changes to the QPAM Exemption would “needlessly” disrupt plan relationships and increase... Read More
BY NAPA Net Staff | 10/11/2022
Due to a technological error, the Securities and Exchange Commission (SEC) has reopened the public comment periods for 11 rulemaking releases and one request for comment, including projects that may... Read More
BY Ted Godbout | 10/11/2022
The U.S. Department of Labor has proposed a new rule on classifying employees and independent contractors that seeks to return to a previous interpretation, which may impact independent financial... Read More
BY Ted Godbout | 10/10/2022
Though final regulations are still pending, the Department of Treasury and Internal Revenue Service (IRS) have essentially reaffirmed guidance for DC plans on required minimum distributions (RMDs),... Read More
BY Ted Godbout | 10/3/2022
Now that the U.S. Senate has confirmed Lisa Gomez to serve as Assistant Secretary for the Department of Labor’s Employee Benefits Security Administration (EBSA), a lengthy to-do list awaits her... Read More
BY Ted Godbout | 9/29/2022
After waiting for more than a year since her nomination was first announced, Lisa Gomez has finally been confirmed to lead the Employee Benefits Security Administration.
In what appeared to... Read More
BY NAPA Net Staff | 9/20/2022
A big fine from the SEC serves as a stark reminder of the need to not only protect, but to preserve securely customer data.
Specifically, the Securities and Exchange Commission (SEC) has announced... Read More
BY Ted Godbout | 9/15/2022
After first saying that the proposed changes to the Qualified Professional Asset Manager (QPAM) Exemption would not have a significant impact on a substantial number of small firms, the... Read More
BY Ted Godbout | 9/12/2022
While a small paragraph from Wells Fargo’s annual 10-K filing for 2021 revealed that the Department of Labor (DOL) was reviewing certain transactions associated with the ESOP feature of the company’s... Read More
BY NAPA Net Staff | 8/29/2022
While there are no details yet, the federal government’s regulatory dashboard suggests that the Department of Labor (DOL) may soon release guidance addressing the independence of employee benefit... Read More
BY NAPA Net Staff | 8/22/2022
After being blasted by various industry stakeholders, the Department of Labor is reopening the comment period on the proposed amendment to its prohibited transaction exemption (PTE) filing and... Read More
BY Ted Godbout | 8/4/2022
The Securities and Exchange Commission is warning broker-dealers and investment advisers that they need to take ongoing steps to identify and eliminate conflicts of interest, noting that all firms... Read More
BY Ted Godbout | 8/1/2022
The SEC is not trying to force funds to invest in ESG, but instead is seeking to make sure disclosures are consistent and reliable so that investors have the information they need, an SEC branch... Read More
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