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
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Regulatory Agencies
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
BY Ted Godbout | 7/27/2022
Speaking July 26 at the 2022 NAPA D.C. Fly-In Forum, the Acting Assistant Secretary for the DOL’s Employee Benefits Security Administration outlined key priorities of the department, including... Read More
BY John Iekel | 7/26/2022
The DOL’s Employee Benefits Security Administration on July 26 announced a proposed amendment to Class Prohibited Transaction Exemption 84-14, also known as the Qualified Professional Asset Manager... Read More
BY Ted Godbout | 7/18/2022
The Department of Treasury is requesting comments regarding potential opportunities and risks presented by the development and adoption of digital assets.
The July 8 request comes following... Read More
BY Ted Godbout | 6/23/2022
Based on updates to the Department of Labor’s Spring 2022 regulatory agenda, it appears that stakeholders will have to wait a little longer for the agency’s revisions to the definition of fiduciary,... Read More
BY Ted Godbout | 6/23/2022
SEC Commissioner Hester Peirce has issued a scathing statement in response to the SEC’s Spring 2022 regulatory agenda, critical of the substance and pace of recent rulemaking.
“Just as... Read More
BY NAPA Net Staff | 6/22/2022
Last week American Retirement Association CEO Brian Graff sat down with Tim Hauser, Deputy Assistant Secretary for Program Operations of the Employee Benefits Security Administration (EBSA), for some... Read More
BY Ted Godbout | 6/20/2022
The Securities and Exchange Commission is requesting feedback on whether the activities of certain “information providers” constitute acting as “investment advisers” under the Investment... Read More
BY Ted Godbout | 6/17/2022
Mark Uyeda, nominated to fill the open Republican seat vacated by former Commissioner Elad Roisman, and Jaime Lizárraga, nominated to fill a slot being vacated by Democrat Allison Herren Lee whose... Read More
BY Ted Godbout | 6/16/2022
The debate over including cryptocurrency in retirement plans continued this week, as the Labor Department now appears ready to up the ante and a key lawmaker on Capitol Hill is asking questions.... Read More
BY Ted Godbout | 6/10/2022
Two new SEC commissioners—one Democrat and one Republican—have moved a step closer to being confirmed by the U.S. Senate.
The Senate Banking Committee on June 8 approved the nominations of... Read More
BY Ted Godbout | 6/8/2022
Just when it seemed that labor lawyer Lisa Gomez might finally be confirmed to lead the Employee Benefits Security Administration (EBSA)—after waiting for nearly a year—it looks like her wait will... Read More
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