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Regulatory Agencies

BY Ted Godbout | 1/13/2021
President-elect Joe Biden is planning to nominate Gary Gensler to serve as chairman of the Securities and Exchange Commission, according to multiple news reports.  Should Gensler be confirmed... Read More
BY Ted Godbout | 1/7/2021
Boston Mayor Martin J. “Marty” Walsh has been selected by President-elect Joe Biden to be the next Secretary of Labor, according to an announcement by the Biden-Harris Transition Team.  ... Read More
BY NAPA Net Staff | 12/29/2020
EDITOR’S NOTE: This is a follow-up to a feature story about the significance of the 2020 election results in the Winter issue of NAPA Net the Magazine.  Since the Winter 2020 issue of ... Read More
BY NAPA Net Staff | 12/29/2020
The Securities and Exchange Commission has announced that President Donald J. Trump has designated SEC Commissioner Elad L. Roisman as Acting Chairman of the agency. He steps into the role... Read More
BY NAPA Net Staff | 12/28/2020
You’re learned a lot during the pandemic—and FINRA would like you to “share.” Noting that “member firms have made rapid and unprecedented changes to their business operations in order to... Read More
BY Ted Godbout | 12/15/2020
The Labor Department’s proposed new fiduciary rule has moved one step closer to being finalized and could be released any day now.  The DOL sent the final version on its proposed advice... Read More
BY Nevin E. Adams, JD | 12/14/2020
There’s been increasing awareness—and litigation—regarding cyber security and participant accounts—and the Labor Department has taken notice. Sources tell us that plan audits are now asking to see... Read More
BY John Iekel | 12/10/2020
The Pension Benefit Guaranty Corporation reports that the financial condition of its single-employer program continues to improve. And while it still projects that the multiemployer program is on the... Read More
BY John Iekel | 12/2/2020
The Department of Labor’s Employee Benefits Security Administration (EBSA), the IRS and the Pension Benefit Guaranty Corporation released advance copies of the 2020 Form 5500 and the Form... Read More
BY Nevin E. Adams, JD | 11/30/2020
It was a short week, but a busy one for the Labor Department, as it dropped off a second final rule at the OMB for evaluation.  The final rule on “Fiduciary Duties Regarding Proxy Voting and... Read More
BY Ted Godbout | 11/30/2020
Joe Biden will nominate former Fed chair Janet Yellen to serve as Secretary of the Treasury, the presumptive president revealed Nov. 30. If Yellen is confirmed by the Senate, she... Read More
BY Ted Godbout | 11/25/2020
To modernize and strengthen the agency’s operations, the Securities and Exchange Commission adopted a final rule on Nov. 17 permitting the use of electronic signatures in authentication documents.... Read More
BY Nevin E. Adams, JD | 11/25/2020
In a year chock-full of proposed rules and final regulations, the Labor Department has apparently wrapped up its work on a new fiduciary rule. According to a posting on the Office of Management... Read More
BY Ted Godbout | 11/25/2020
The Securities and Exchange Commission has issued proposed rules that would permit—on a trial basis—public and private companies to offer equity compensation to their gig workers who provide services... Read More
BY NAPA Net Staff | 11/16/2020
Jay Clayton, Chairman of the Securities and Exchange Commission, has confirmed that he will conclude his tenure at the end of this year.  Chairman Clayton was sworn in on May 4, 2017, and... Read More
BY David Levine, JD | 11/5/2020
For three years, there was relative peace in the land of Department of Labor guidance. DOL investigations continued apace and memories of the 2015-2017 battles over the DOL fiduciary rule began to... Read More
BY Ted Godbout | 10/29/2020
Total monetary recoveries by the Labor Department’s Employee Benefits Security Administration’s enforcement and oversight activity in fiscal year 2020 apparently hit a record.  According to... Read More
BY Ted Godbout | 10/29/2020
The Department of Labor is working on a guidance package addressing cybersecurity issues as they relate to plan sponsors and third-party providers, a key official said Oct. 28.   Addressing... Read More
BY Ted Godbout | 10/27/2020
As the effective date for Pooled Employer Plans (PEPs) nears, the Department of Labor is not wasting any time in trying to finalize the corresponding Pooled Plan Provider (PPP) registration... Read More
BY John Iekel | 10/23/2020
President Trump on Oct. 22 issued a memorandum directing the heads of three departments to review pension plans the Pension Benefit Guaranty Corporation (PBGC) holds in trusteeship.... Read More
BY Brian Graff | 10/22/2020
In late June, the Labor Department issued a proposed rule innocuously titled “Financial Factors in Selecting Plan Investments.” While the proposed rule itself was relatively short and largely... Read More
BY Ted Godbout | 10/16/2020
Release of the Department of Labor’s final rule addressing environmental, social and governance (ESG) factors in selecting plan investments appears to be imminent.  Following a 30-day comment... Read More
BY John Iekel | 10/2/2020
Effective Sept. 28, the Department of Labor (DOL) began following the Promoting Regulatory Openness through Good Guidance Rule, a measure that requires that it use guidance appropriately,... Read More
BY Ted Godbout | 9/18/2020
The Securities and Exchange Commission (SEC) cautions that it has observed an increase in cyber-attacks against registered investment advisers (RIAs) and broker dealers (BDs), which, in some cases,... Read More
BY Nevin E. Adams, JD | 9/18/2020
A month ago, the Labor Department unveiled an interim final rule on lifetime income disclosures on participant statements. Today the window for comments opens. Under the Interim Final Rule,... Read More