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Regulatory Agencies

BY Ted Godbout | 7/28/2021
Cautioning those looking to “game the system,” a senior Labor Department official affirmed July 27 that suggesting investments that could occur after a rollover is tantamount to recommending the... Read More
BY Ted Godbout | 7/28/2021
Speaking July 27 at the 2021 NAPA D.C. Fly-In Forum, the Acting Assistant Secretary for the DOL’s Employee Benefits Security Administration outlined the key areas the department is working on,... Read More
BY NAPA Net Staff | 7/28/2021
The Labor Department wants everyone to be attentive to cybersecurity protocols as a fiduciary responsibility, but there’s a higher expectation for those “running the systems.” Tim Hauser, Deputy... Read More
BY NAPA Net Staff | 7/27/2021
The White House has announced nine key nominations, including Lisa Gomez, for Assistant Secretary for Employee Benefits Security, Department of Labor. According to Reuters, Gomez is currently a... Read More
BY NAPA Net Staff | 7/26/2021
Cybersecurity is a hot topic these days, with a new ransomware attack or data breach in the news nearly every day, not to mention recent guidance—and word of audit questions—from the Labor Department... Read More
BY Ted Godbout | 7/15/2021
The Securities and Exchange Commission’s Division of Examinations will be getting a new director following the departure of current Director Peter Driscoll next month.  According to the July... Read More
BY Ted Godbout | 7/13/2021
Witnesses testifying before the ERISA Advisory Council largely panned the idea for additional fiduciary or disclosure obligations on DC plans that contain brokerage windows.   During the... Read More
BY Ted Godbout | 7/13/2021
After a delay of more than three months, the Senate has finally confirmed Julie Su as Deputy Labor Secretary, the No. 2 post at the department.  The Senate confirmed Su July 13 on a party-... Read More
BY Ted Godbout | 7/8/2021
The SEC’s Asset Management Advisory Committee (AMAC) has issued a series of recommendations to enhance disclosures of environmental, social and governance and diversity and inclusion factors.... Read More
BY Ted Godbout | 7/7/2021
Julie Su, who was nominated by President Biden in February to serve as Deputy Secretary of the Department of Labor, may finally get an up-or-down vote in the Senate.  Prior to... Read More
BY Ted Godbout | 6/29/2021
A plan sponsor asserts that an audio recording of a claims inquiry was made for quality assurance purposes and was not part of the administrative record, but the Department of Labor has a different... Read More
BY Ted Godbout | 6/29/2021
The Securities and Exchange Commission has named a new Director of Enforcement, after the previous director resigned after only a week in that post.  Effective July 26, 2021, Gurbir S. Grewal... Read More
BY John Iekel | 6/25/2021
The Department of Labor (DOL)  announced June 23 that it is reopening the comment period for amendments to class exemptions from prohibited transaction rules set forth in ERISA and the... Read More
BY Ted Godbout | 6/16/2021
If the threat of a cybersecurity breach wasn’t enough cause for concern to take action, an inquiry by the Department of Labor might do the trick.  “We can confirm that the DOL has begun... Read More
BY Ted Godbout | 6/15/2021
The Treasury Department and the Securities and Exchange Commission offered a look at their regulatory priorities for the coming months on June 11, including proposals in the pre-rule and final stages... Read More
BY Ted Godbout | 6/14/2021
The Department of Labor’s newly released Spring 2021 regulatory agenda confirms that a fiduciary rule rewrite is in the works and provides other key insight for the department’s regulatory plans for... Read More
BY Ted Godbout | 5/11/2021
Amid ongoing questions surrounding the use of private equity investments in professionally managed funds within 401(k)s, a senior Labor Department official confirmed that the department is conducting... Read More
BY John Iekel | 5/10/2021
The IRS has announced the health savings account (HSA) limits for 2022. The announcement came in IRS Revenue Procedure 2021-25. HSA Limits For calendar year 2022, the annual limitation on... Read More
BY Nevin E. Adams, JD | 5/7/2021
The Chairpersons of two of the leading retirement plan committees in Congress are calling for a review of…target-date funds. Sen. Patty Murray (D-WA), Chair of the Senate Committee on Health,... Read More
BY Nevin E. Adams, JD | 5/4/2021
When the Labor Department issued last month what it called “new guidance” that it further described as “the first time the department’s Employee Benefits Security Administration has issued... Read More
BY Ted Godbout | 4/30/2021
The Department of Labor will revisit Prohibited Transaction Exemption 2020-02 and the rules on Financial Factors in Selecting Plan Investments and proxy voting issued in the final weeks of the Trump... Read More
BY Ted Godbout | 4/27/2021
The President’s choice of a former Obama administration official to serve as the top policy director at the Department of Labor signals the advent of a progressive regulatory agenda. ... Read More
BY Ted Godbout | 4/20/2021
Just two days after being sworn in as Chair of the Securities and Exchange Commission, Gary Gensler has already named four senior staffers, one of whom could signal a pivot toward an activist... Read More
BY Ted Godbout | 4/14/2021
The Senate has now approved President Biden’s nominee to chair the Securities and Exchange Commission, setting the stage for a shift in power—but there is a minor catch.  The full Senate... Read More
BY John Iekel | 4/14/2021
The DOL's Employee Benefits Security Administration issued guidance April 14 on cybersecurity best practices for recordkeepers, plan sponsors and fiduciaries, participants and beneficiaries.... Read More