The Labor Department has filed for a stay of proceedings in litigation challenging the fiduciary regulation.“Here, a stay of proceedings would be the most efficient use of judicial resources,” the... Read More
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Regulatory Compliance
BY NAPA Net Staff | 7/24/2017
A group of lawmakers has responded to the Labor Department’s request for information (RFI) on the fiduciary regulation delay – by expressing concern that the RFI would be used as a pretext for... Read More
BY Nevin E. Adams, JD | 7/18/2017
In a July 18 letter responding to the Labor Department’s request for information (RFI) on its fiduciary regulation, the American Retirement Association (ARA) has requested an extension of the... Read More
BY NAPA Net Staff | 7/10/2017
The Labor Department’s recent Request for Information (RFI) about the fiduciary regulation indicate the issues of greatest interest to the DOL. Fred Reish looks at two issues concerning the Best... Read More
BY NAPA Net Staff | 7/5/2017
Discretion is said to be the better part of valor – but that’s not necessarily the case with discretionary accounts and the fiduciary regulation.And, according to a recent blog post, if you’re not... Read More
BY John Iekel | 7/5/2017
The IRS has made some changes to how it deals with pre-approved plans, hoping to encourage employers to switch from individually designed plans to the pre-approved format.In Revenue Procedure (Rev.... Read More
BY Nevin E. Adams, JD | 7/5/2017
The Labor Department may be reviewing the impact of the fiduciary rule, but they’d still like the court to dismiss challenges to it.On July 3 the DOL urged the U.S. Court of Appeals for the 5th... Read More
BY NAPA Net Staff | 6/23/2017
There’s an old regulation that has new meaning under the new fiduciary regulation – and it could catch new fiduciaries, as well as broker-dealers, by surprise.That “old” regulation is the 408(b)(2)... Read More
BY NAPA Net Staff | 6/20/2017
Think the transition period for the fiduciary regulation will be extended? Fred Reish has some thoughts…In his most recent blog post on the fiduciary regulation (#52, if you’re counting), Reish... Read More
BY NAPA Net Staff | 6/16/2017
In his latest blog post on the fiduciary regulation, Fred Reish examines the components of a “best interest” process.The first step of a best interest, or prudent process, is to determine the... Read More
BY NAPA Net Staff | 6/12/2017
In a June 8 letter to Rob Choi, director of the Office of Employee Plans in the IRS Tax-Exempt & Government Entities Division, the American Retirement Association offered comments on the guidance... Read More
BY NAPA Net Staff | 6/9/2017
The Department of Labor recently issued a set of FAQs on the fiduciary rule. In his most recent blog post, Fred Reish says that one of those “raises some significant issues” for broker-dealers and... Read More
BY Nevin E. Adams, JD | 6/8/2017
The Labor Department has taken its first step in the review of the fiduciary regulation ordered by President Trump earlier this year.That step was marked by the delivery of a request for information... Read More
BY NAPA Net Staff | 6/5/2017
The new fiduciary rule will convert many current non-fiduciary advisers into fiduciaries – and while there is not a disclosure requirement for new fiduciary advisers to IRAs, there is for these newly... Read More
BY NAPA Net Staff | 6/2/2017
The applicability date is right around the corner – but the conflicts regarding the conflict-of-interest regulation apparently aren’t going away any time soon.In a report described as “a compilation... Read More
BY NAPA Net Staff | 5/30/2017
The IRS and Treasury Department have said they won’t enforce the fiduciary advice prohibited transactions during the transition period – as long as the requirements of the DOL non-enforcement policy... Read More
BY Nevin E. Adams, JD | 5/24/2017
The Labor Department has published a new set of FAQs about the fiduciary regulation, these focused on the so-called “transition period” from June 9, 2017 to Jan. 1, 2018.The big question on many... Read More
BY Nevin E. Adams, JD | 5/23/2017
Secretary of Labor Alexander Acosta is now on record saying he won’t delay implementation of the fiduciary regulation.He chose a very public means of doing so: an op-ed in The Wall Street Journal (... Read More
BY NAPA Net Staff | 5/22/2017
Citing a NAPA Net report, three Senate Democratic have pressed Secretary of Labor Alexander Acosta regarding comments that he wanted to find a way to freeze the fiduciary rule and make it “stick.”... Read More
BY NAPA Net Staff | 5/15/2017
In less than a month, the new “transition” exemptions will apply to recommendations for IRAs. Fred Reish looks at how to prepare for that shift.In a recent blog post, Reish explains that if an... Read More
BY Nevin E. Adams, JD | 5/12/2017
A recent story in Investment News completely mischaracterizes NAPA’s position on the fiduciary rule.Earlier this week, we ran a story based on credible information from a reliable source describing a... Read More
BY Nevin E. Adams, JD | 5/11/2017
One of the more novel legal arguments opposing the fiduciary regulation has resurfaced in an amicus (“friend of the court”) filing.Arguing on behalf of plaintiffs (including the Chamber of Commerce)... Read More
BY NAPA Net Staff | 5/9/2017
Its efforts having fallen short in the courts, a trade group has launched a grassroots campaign to derail the Labor Department’s fiduciary regulation.The National Association for Fixed Annuities (... Read More
BY NAPA Net Staff | 5/8/2017
The Internal Revenue Service has announced the 2018 limits for health savings accounts and high-deductible health plans.In Rev. Proc. 2017-37 the IRS notes that individuals who participate in a high-... Read More
BY NAPA Net Staff | 5/5/2017
Having dealt with the requirements of ERISA’s prudent man rule and of the best-interest standard of care for IRAs and plans, noted ERISA attorney Fred Reish now examines the requirements of the two... Read More
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