As the SEC ramps up its enforcement of the Marketing Rule’s stricter requirements, a newly released risk alert warns advisers that they are still coming up short in several areas. ... Read More
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Regulatory Compliance
BY Ted Godbout | 4/12/2024
Serving as another warning that it's past time to begin complying with its amended marketing rule, the Securities and Exchange Commission (SEC) has settled charges against five registered investment... Read More
BY Ted Godbout | 3/26/2024
Nearly 4 in 10 compliance professionals from asset management, investment adviser, and private markets firms have yet to evaluate Artificial Intelligence (AI) as a cybersecurity risk, according to... Read More
BY Ted Godbout | 3/6/2024
Touted by proponents as a way to “enhance and standardize climate-related disclosures by public companies and in public offerings,” a divided Securities and Exchange Commission on March 6 approved... Read More
BY Ted Godbout | 2/13/2024
While the Department of Labor’s Employee Benefits Security Administration (EBSA) recovered $1.435 billion in direct payment to plans, participants and beneficiaries in fiscal year 2023, that number... Read More
BY Ted Godbout | 2/9/2024
The Securities and Exchange Commission (SEC) on Feb. 9 announced charges against 16 firms for what the Commission described as “widespread and longstanding failures” by the firms and their employees... Read More
BY John Iekel | 1/29/2024
The IRS has made the 2023 Cumulative List of Changes in Plan Qualification Requirements for Defined Contribution Qualified Pre-Approved Plans available. The new list, contained in Notice... Read More
BY Ted Godbout | 1/23/2024
Employer plan sponsors and fiduciaries that are subject to the prohibited transaction rules as set forth in ERISA and the Internal Revenue Code (IRC) will want to take note of new procedures for... Read More
BY Nevin E. Adams, JD | 1/12/2024
The Internal Revenue Service (IRS) has issued initial guidance to help employers with implementation of pension-linked emergency savings accounts (PLESAs).
Authorized under the SECURE 2.0 Act of... Read More
BY John Sullivan | 1/8/2024
While many financial services firms and related trade groups have expressed their opposition, several high-profile firms have come out in support of the latest iteration of the Department of Labor’s... Read More
BY John Iekel | 1/4/2024
The IRS has updated Form 8881, Credit for Small Employer Pension Plan Startup Costs, Auto-Enrollment, and Military Spouse Participation, for 2023 filing to reflect provisions in SECURE 2.0... Read More
BY John Iekel | 1/3/2024
New year, new forms. The Department of Labor’s Employee Benefits Security Administration (EBSA) on Jan. 1 released the Form 5500, Form 5500-SF, and Form 5500-EZ for reporting concerning the 2023 plan... Read More
BY John Iekel | 12/26/2023
The IRS has issued a reminder that people born before 1951 need to take required minimum distributions (RMDs) from funds held in IRAs and other retirement plans by the end of the year. And in so... Read More
BY John Iekel | 12/21/2023
The IRS on Dec. 20 issued the 2023 cumulative list of changes in plan qualification requirements for pre-approved defined contribution (DC) plans. The changes are contained in Notice 2024-03... Read More
BY John Iekel | 11/30/2023
The guidance the IRS just issued in Revenue Procedure (Rev. Proc.) 2023-37 on qualified and 403(b) pre-approved plans made some significant changes in order to conform, clarify, and update... Read More
BY Kelsey H. Mayo and Robert M. Richter | 11/27/2023
On Nov. 24, 2023—yes, the day after Thanksgiving!—the Department of Treasury and Internal Revenue Service released a proposed regulation (the “Prop. Reg.”) providing much-anticipated guidance on the... Read More
BY Ted Godbout | 11/22/2023
The self-regulatory organization has filed with the Securities and Exchange Commission (SEC) a proposed rule change allowing broker-dealers to provide projections of performance in institutional... Read More
BY John Iekel | 11/17/2023
The Department of Labor’s Employee Benefits Security Administration (EBSA), the IRS and the Pension Benefit Guaranty Corporation (PBGC) on Nov. 17 released informational copies of the 2023 Form 5500... Read More
BY John Iekel | 11/16/2023
The IRS has updated the information on its website to indicate that beginning Jan. 1, 2024, Form 5558, Application for Extension of Time to File Certain Employee Plan Returns, can be filed... Read More
BY Ted Godbout | 11/16/2023
The Securities and Exchange Commission (SEC) in fiscal year 2023 obtained orders for $4.9 billion in financial remedies, the second highest amount in SEC history, after the record-setting financial... Read More
BY Kelsey Mayo | 11/8/2023
We wrote in August about a system error that resulted in a significant number of plan sponsors receiving erroneous penalty notifications related to Form 8955-SSA. After raising the issue... Read More
BY John Sullivan | 11/5/2023
Top Republicans are upset with Acting Labor Secretary Julie Su for failing to provide the information they requested regarding the Employee Benefits Security Administration’s (EBSA) enforcement... Read More
BY Ted Godbout | 11/1/2023
The Internal Revenue Service has just announced the new contribution and benefit limits for 2024 and—reflecting the moderating inflation readings, the increases are modest.
The headline is that... Read More
BY Ted Godbout | 10/17/2023
The Department of Labor (DOL) has denied that it planned to increase investigative efforts targeted at brokerage windows following the release last year of a compliance assistance bulletin implying... Read More
BY Ted Godbout | 10/16/2023
The proliferation of certain types of investments that pose emerging risks to investors, such as crypto assets, as well as emerging financial technology, will be among the Securities and... Read More
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