The Securities and Exchange Commission is working “expeditiously” on a uniform fiduciary standard, according to SEC Chair Mary Jo White. She made her comments Nov. 10 at the annual meeting of the... Read More
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Regulatory Agencies
BY Ray Harmon | 11/11/2015
“In my 40 years of doing this, I never thought I’d see the day we’d have a President giving us direct instructions” [on state-run, automatic enrollment IRA programs], Assistant Secretary of Labor... Read More
BY NAPA Net Staff | 11/4/2015
The Treasury Department has officially launched its MyRA program on a national basis, hoping to “create a savings habit that will grow,” according to Treasury Secretary Jacob Lew.While the Nov. 4... Read More
BY John Ortman | 10/23/2015
Related: The biggest impact of the DOL's proposed fiduciary rule, a.k.a. the "conflict of interest rule," isn't on plans or plan advisors, it's on the IRA market, ERISA attorney Fred Reish told a... Read More
BY NAPA Net Staff | 9/14/2015
The Labor Department has launched a new initiative in the communication “war” about its conflict of interest proposal.Last week the Labor Department published a “Q&A on Small Savers” which leads... Read More
BY NAPA Net Staff | 9/9/2015
If you have comments on the Labor Department’s fiduciary reproposal, you only have a couple of weeks to share them.The DOL announced Sept. 8 that the public comment period will close on Thursday,... Read More
BY NAPA Net Staff | 9/8/2015
If your plan sponsor clients haven’t filed Form 5500 as required, they could soon be hearing from the IRS.Recently the Internal Revenue Service’s Employee Plans Compliance unit (EPCU) announced plans... Read More
BY Nevin E. Adams, JD | 9/3/2015
The Department of Labor is moving ahead with its effort to make it easier for states to offer retirement initiatives without running afoul of federal law, sending a proposed rule to the Office of... Read More
BY Fred Barstein | 8/25/2015
The DOL is not entirely focused on their conflict of interest rule, it seems. In an interview with Institutional Investor, EBSA Director Phyllis Borzi discussed the expanding number of state... Read More
BY Andrew Remo | 8/14/2015
Renowned French author André Gide once famously remarked, “Everything that needs to be said has already been said. But since no one was listening, everything must be said again.” So it felt at times... Read More
BY Andrew Remo | 8/13/2015
Marcy Supovitz, NAPA’s Founding President and President-Elect of the American Retirement Association, testified at the public hearing on the Department of Labor’s reproposed fiduciary rule Aug. 12.... Read More
BY Andrew Remo | 8/12/2015
The second day of public hearings on the Department of Labor’s fiduciary rule reproposal was highlighted by a debate over the economic impact that the rule will have on the financial services... Read More
BY NAPA Net Staff | 8/12/2015
Responding to a bipartisan (though primarily Republican) letter from more than a dozen members of Congress, Labor Secretary Thomas Perez says his agency will “move forward towards issuing a Final... Read More
BY Andrew Remo | 8/11/2015
The first day of the Department of Labor’s public hearing on its re-proposed fiduciary rule Aug. 10 veered from the informative to the absurd as the Department’s rule makers heard from a broad array... Read More
BY Nevin E. Adams, JD | 8/7/2015
The U.S. Department of Labor has unveiled the agenda for 25 panels to be held over four days of hearings on the fiduciary proposal next week.The hearings will commence at 9 a.m. on Aug. 10, and... Read More
BY Michael Bushnell | 8/7/2015
SEC Commissioner Daniel M. Gallagher isn’t conceding any ground in his opposition to the Labor Department’s “conflict of interest” proposal.In a comment letter to Labor Secretary Thomas E. Perez,... Read More
BY Fred Barstein | 8/3/2015
Perhaps lost in the discussion about the DOL’s proposed fiduciary rule’s effect on IRAs is the fact that everyone seems to have conceded that, in the future, advisors working on DC plans will be... Read More
BY John Iekel | 8/3/2015
Beginning Oct. 1, it’s back to the 20th century for anyone who used to ask a question of the IRS Employee Plans Office. The IRS announced on July 31 that as of that date, that office will no longer... 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
Taking a cue from the boss, Labor Secretary Thomas Perez has said that the DOL will issue guidance to help facilitate state-based retirement plans. Perez made his remarks on the DOL blog. As... Read More
BY NAPA Net Staff | 6/24/2015
The public comments that the Department of Labor is receiving on its proposed fiduciary rule already are having an effect, Labor Secretary Thomas Perez said at June 23 Brookings Institution forum in... Read More
BY NAPA Net Staff | 6/16/2015
The Department of Labor’s Employee Benefit Security Administration (EBSA) announced June 16 that it will hold public hearings on its fiduciary proposal on Aug. 10, 11 and 12 — and 13, if necessary.... Read More
BY NAPA Net Staff | 5/26/2015
Last week President Barack Obama announced his intent to nominate a number of individuals to key administration posts, including the Pension Benefit Guaranty Corporation (PBGC).Assuming the Senate... Read More
BY Michael Bushnell | 5/21/2015
The Securities and Exchange Commission announced May 20 a set of proposed rules implementing new reporting and disclosure standards for financial advisors and investment companies. Among other things... Read More
BY NAPA Net Staff | 5/16/2015
The Department of Labor has announced a brief extension of the comment period on its fiduciary reproposal — and set a date for a public hearing.The comment period for what the DOL calls the Conflict... Read More
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