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Regulatory Compliance

BY John Iekel | 3/22/2019
The Federal Trade Commission is considering amendments to cybersecurity rules that could have an impact on retirement plan professionals.  Earlier this month, the FTC voted 3-2 to propose... Read More
BY Allison Wielobob | 3/4/2019
The Silver State managed to overlook the long history of ERISA preemption in its recent draft fiduciary regulations. Once again, the American Retirement Association has brought this to their... Read More
BY Ted Godbout | 3/4/2019
A group consisting of 12 separate financial services trade associations – including SIFMA, ACLI and the U.S. Chamber of Commerce – have highlighted both preemption issues and legal deficiencies with... Read More
BY Ted Godbout | 1/24/2019
Investment suitability will remain one of FINRA’s top examination priorities, but the organization will also target broker-dealers’ use of online distribution platforms, due diligence compliance and... Read More
BY John Iekel | 1/24/2019
Misunderstanding what the “15th business day” means for purposes of Department of Labor regulations can earn unwelcome attention from the DOL's Employee Benefits Security Administration.The DOL’s... Read More
BY Ted Godbout | 1/22/2019
Broker-dealers and advisors doing business in Nevada will need to pay attention to newly proposed regulations defining the state’s new fiduciary standard – especially since there does not appear to... Read More
BY NAPA Net Staff | 1/2/2019
Having previously outlined different perspectives on a “best interest” standard of care, Fred Reish now looks at how that standard applies to specific circumstances.In a recent blog post, Reish notes... Read More
BY NAPA Net Staff | 12/31/2018
Massachusetts' Secretary of the Commonwealth William F. Galvin has announced a consent order regarding a broker-dealer’s failure to supervise agents who mishandled the personal information of Bay... Read More
BY NAPA Net Staff | 12/28/2018
The Securities and Exchange Commission has struck a deal with two investment advisory firms that allegedly “selected mutual fund share classes inconsistent with their disclosures to clients.”The SEC... Read More
BY Ted Godbout | 12/26/2018
The Securities and Exchange Commission will place particular emphasis on examining digital assets, cybersecurity and retail investor issues relating to fees, expenses and conflicts of interest next... Read More
BY Ted Godbout | 12/18/2018
A new Risk Alert by the U.S. Securities and Exchange Commission reminds advisers of their obligations concerning the use of electronic messaging.The SEC’s Office of Compliance Inspections and... Read More
BY Ted Godbout | 12/17/2018
The American Retirement Association is recommending that the Securities and Exchange Commission (SEC) further clarify Regulation Best Interest to avoid any “gap” in regulatory coverage.In a follow-up... Read More
BY John Iekel | 12/14/2018
The American Retirement Association (ARA) in a Dec. 11 letter to Acting IRS Commissioner David Horton has made suggestions regarding the Employee Plans Compliance Resolution System (EPCRS). Namely,... Read More
BY Ted Godbout | 12/12/2018
A new report highlighting examination findings explains that the self-governing body continues to observe unsuitable recommendations to retail investors, as well as deficiencies in some firms’... Read More
BY Ted Godbout | 12/5/2018
Newly finalized rules by the Securities and Exchange Commission establish a safe harbor for an unaffiliated broker or dealer participating in a securities offering of a covered investment fund to... Read More
BY John Iekel | 11/30/2018
The IRS on Nov. 29 expanded upon a provision of the hardship withdrawal regulations that it issued earlier in November allowing DC plans to make loans and hardship distributions to victims of... Read More
BY John Iekel | 11/30/2018
The Department of Labor (DOL) has announced that it is providing guidance and relief for victims of California’s Camp, Hill, Woolsey and other wildfires.The DOL says that it “recognizes that these... Read More
BY John Iekel | 11/28/2018
The New Jersey Bureau of Securities held a public hearing Nov. 19 on the proposed state rule that would implement a uniform fiduciary standard in the Garden State. It is the second public hearing on... Read More
BY John Iekel | 11/15/2018
The Department of Labor’s Employee Benefits Security Administration (EBSA), the IRS and the Pension Benefit Guaranty Corporation (PBGC) on Nov. 14 released advance copies of the Form 5500 Series... Read More
BY NAPA Net Staff | 11/14/2018
The IRS has granted relief from penalties on payroll and excise tax deposits due on or after Nov. 8, 2018, and before Nov. 23, 2018, which it says will be abated as long as the deposits are made by... Read More
BY Ted Godbout | 11/12/2018
The 2018-2019 Treasury Priority Guidance Plan includes more than 60 regulatory projects relating to implementation of the Tax Cuts and Jobs Act that the agency intends to address in the coming year.... Read More
BY Nevin E. Adams, JD | 11/12/2018
With the impetus of the Bipartisan Budget Act of 2018, the IRS has provided for comment some much-anticipated new proposed regulations on hardship distributions.Generally speaking, the changes will... Read More
BY Ted Godbout | 11/2/2018
IRS guidance issued last month clarifies when advisors and other taxpayers can continue to deduct 50% of the cost of food or beverages conducted in the course of doing business.Prior to enactment of... Read More
BY NAPA Net Staff | 11/2/2018
The IRS has announced cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2019. The 2019 limits are contained in Notice 2018-83,... Read More
BY Ted Godbout | 11/1/2018
The Securities and Exchange Commission is proposing rule changes to the disclosure regime for variable annuity and variable life insurance contracts in an effort to help investors with their... Read More