Following an in-depth examination of self-directed brokerage accounts, the ERISA Advisory Council made only one recommendation to the Labor Department—but it’s what the Council didn’t recommend that... Read More
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Regulatory Agencies
BY NAPA Net Staff | 2/11/2022
The U.S. Department of Labor has announced publication of a Request for Information seeking public comment on “what actions, if any, the department should take under federal law to protect retirement... Read More
BY Ted Godbout | 2/9/2022
The ERISA Advisory Council has released a 72-page summary report offering recommendations to address gaps in retirement savings based on race, ethnicity and gender.
As part of its 2021 study... Read More
BY NAPA Net Staff | 2/2/2022
The Biden administration has thrown its support behind the conclusions—and safeguards—of the previous administration’s e-delivery rule.
“Our preliminary assessment is that the subject regulation... Read More
BY Ted Godbout | 1/25/2022
Securities and Exchange Commission staff is developing recommendations targeted at strengthening the financial sector’s cybersecurity hygiene, the SEC chairman said Jan. 24.
Speaking... Read More
BY Ted Godbout | 1/13/2022
The old adage of “if at first you don’t succeed, try, try again” appears to apply to President Biden’s nominee to lead the Employee Benefits Security Administration (EBSA).
For the second... Read More
BY John Iekel | 1/12/2022
The Pension Benefit Guaranty Corporation (PBGC) has more work to do with its Missing Participants Program, says the agency’s Office of the Inspector General.
In order to determine the... Read More
BY Ted Godbout | 1/4/2022
President Biden’s nominee to lead the Employee Benefits Security Administration (EBSA) appears to be back on track.
While it appeared the nomination of Lisa Gomez to serve as Assistant... Read More
BY John Iekel | 12/30/2021
The Department of Labor, IRS and Pension Benefit Guaranty Corporation (PBGC) on Dec. 29 released information copies of the Form 5500, Form 5500-SF and Form 5500-EZ for use in reporting about the 2021... Read More
BY Ted Godbout | 12/28/2021
SEC Chairman Gary Gensler continues to bring in staff with a stronger enforcement focus, along with a more progressive agenda.
The Commission recently announced the appointment of William... Read More
BY Ted Godbout | 12/22/2021
Despite advancing through the Senate committee process in early December, President Biden’s nominee to lead the Employee Benefits Security Administration (EBSA) may be in jeopardy.
The... Read More
BY Ted Godbout | 12/22/2021
A supplemental statement released by the Department of Labor cautions that private equity investments in participant-directed retirement savings plans may not be appropriate in certain cases.... Read More
BY Ted Godbout | 12/20/2021
Securities and Exchange Commissioner Elad Roisman has announced that he plans to step down from his post early next year, which will leave the agency short-handed temporarily.
In a... Read More
BY Ted Godbout | 12/20/2021
The SEC should establish performance measures for FINRA oversight that reflect leading practices and procedures for tracking, identifying and communicating the significance of examination findings,... Read More
BY Nevin E. Adams, JD | 12/15/2021
Among the nearly 29,000 comments received,[i] a group of senior U.S. senators has suggested that the Labor Department pull its ESG proposal, while a dozen state Attorneys’ General are backing... Read More
BY Ted Godbout | 12/7/2021
Developing solutions for more Americans to have lifetime income options within their retirement plans is one of the Department of Labor’s key priorities for the coming year, according to Kathleen... Read More
BY John Iekel | 12/6/2021
In a private letter ruling (PLR), the IRS has issued a waiver of the 60-day rollover deadline for Roth amounts erroneously deposited in traditional IRA. It issued PLR 202147015 on Sept. 1,... Read More
BY Ted Godbout | 12/2/2021
President Biden’s nominee to lead the Employee Benefits Security Administration has moved one step closer to being confirmed.
Lisa Gomez, who was nominated by Biden in July to serve as... Read More
BY NAPA Net Staff | 11/24/2021
UPDATED NOV. 29: HEARING RESCHEDULED.
The Senate Health, Education, Labor and Pensions (HELP) Committee has scheduled a vote to consider President Biden’s pick to head the Employee Benefits... Read More
BY John Iekel | 11/24/2021
The Department of Labor announced on Nov. 23 that in FY 2021, the Employee Benefits Security Administration recovered more than $2.4 billion in direct payments to retirement plans,... Read More
BY Ted Godbout | 11/22/2021
The total number of cases the Securities and Exchange Commission filed in fiscal year 2021 was down from the previous year, but the level of penalties was up.
The SEC announced Nov. 18... Read More
BY Ted Godbout | 11/19/2021
The Securities and Exchange Commission has issued proposed amendments to the electronic recordkeeping and prompt-production-of-records requirements applicable to broker-dealers, security-based swap... Read More
BY Ted Godbout | 11/17/2021
The Securities and Exchange Commission voted Nov. 17 to propose amendments rescinding two rules applicable to proxy voting advice businesses that the Commission adopted in 2020, when it was... Read More
BY Ted Godbout | 11/3/2021
Recognizing the increasing importance for companies and regulators as more registrants move online and new cybersecurity threats evolve, SEC Commissioner Elad Roisman says it’s time for the SEC to... Read More
BY Ted Godbout | 10/25/2021
The Department of Labor has issued a temporary delay of the enforcement effective date for Prohibited Transaction Exemption 2020-02.
In Field Assistance Bulletin 2021-02, released Oct. 25, ... Read More
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