Regulation And Legislation

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ETFs take center stage in 2021
NEWS RIAS DEC 07, 2021
ETFs take center stage in 2021

Record net inflows are just a part of the story. ETFs continue to take market share of mutual funds by doing more for less.

Gomez would bring industry experience to DOL’s retirement plan oversight
NEWS RETIREMENT PLANNING DEC 06, 2021
Gomez would bring industry experience to DOL’s retirement plan oversight

The nominee to head Employee Benefits Security Administration could receive full Senate confirmation later this month.

Gensler sets fast pace, expansive policies at SEC with Democrats in control
NEWS REGULATION AND LEGISLATION DEC 06, 2021
Gensler sets fast pace, expansive policies at SEC with Democrats in control

The legislative highlight of the year was Democrats raising fewer taxes on the wealthy than anticipated.

Navigating the uncertainty around tax changes
NEWS RETIREMENT PLANNING DEC 06, 2021
Navigating the uncertainty around tax changes

Many advisers are telling clients to wait until the smoke clears on Capitol Hill before making major tax planning decisions.

Adidas wins 401(k) lawsuit
NEWS RETIREMENT PLANNING DEC 03, 2021
Adidas wins 401(k) lawsuit

The plaintiffs failed to make any factual allegations about the Adidas plan sponsor’s process of selecting investments, the magistrate judge noted.

Ritholtz, WisdomTree launch  crypto index separate account
NEWS RIAS DEC 03, 2021
Ritholtz, WisdomTree launch crypto index separate account

Riding the direct indexing wave, the WisdomTree Crypto Index is designed for advisers but could also offer direct access for retail investors.

Elizabeth Warren grills Bitcoin miner on climate
NEWS ALTERNATIVES DEC 03, 2021
Elizabeth Warren grills Bitcoin miner on climate

The Massachusetts senator is asking Greenidge Generation how its Bitcoin mining operations will affect climate change and the local environment.

SEC tensions over crypto regulation emerge at meeting
NEWS ALTERNATIVES DEC 02, 2021
SEC tensions over crypto regulation emerge at meeting

At a meeting of the SEC Investor Advisory Committee, SEC Chair Gensler says many digital tokens are securities and fall under its jurisdiction, while Commissioner Peirce says agency is applying 'strategic ambiguity' to pursue enforcement first.

Experts downplay need for universal ESG standards
NEWS ESG DEC 01, 2021
Experts downplay need for universal ESG standards

The key is for funds to be transparent about their investment strategies and live up to them, panelists at the InvestmentNews ESG Summit said.

University of Miami inks $1.9M settlement over retirement plans
NEWS RETIREMENT PLANNING DEC 01, 2021
University of Miami inks $1.9M settlement over retirement plans

Plaintiffs in a 2020 class-action lawsuit claimed the school failed to select competitive investments and administrative services.

VCA Inc. latest to face 401(k) class action
NEWS RETIREMENT PLANNING NOV 29, 2021
VCA Inc. latest to face 401(k) class action

VCA participants paid annual record-keeping fees of up to $105, while some comparably sized 401(k)s have fees closer to $38, plaintiffs claim.

El-Erian says Fed should recognize inflation isn't transitory
NEWS REGULATION AND LEGISLATION NOV 29, 2021
El-Erian says Fed should recognize inflation isn't transitory

Allianz's chief economic adviser suggests the central bank 'ease your foot off the accelerator starting now.'

DOL's EBSA investigations, recoveries down from record in 2021
NEWS RETIREMENT PLANNING NOV 24, 2021
DOL's EBSA investigations, recoveries down from record in 2021

The Labor Department's Employee Benefits Security Administration recovered about $2.4 billion in fiscal 2021, down from $3.1 billion a year prior.

Finra fines small B-D for misinformation in note sale
NEWS PRACTICE MANAGEMENT NOV 24, 2021
Finra fines small B-D for misinformation in note sale

WestPark Capital's information in the sale of $3.9 million worth of promissory notes was faulty, according to the regulator.

Biden bill provides tax cut for millionaires, hike for mega rich
NEWS REGULATION AND LEGISLATION NOV 24, 2021
Biden bill provides tax cut for millionaires, hike for mega rich

Joint Committee on Taxation data show that while millionaires collectively would pay a higher tax rate under the Build Back Better Act passed by the House, those earning at least $1 million would collectively pay $46.8 billion less in taxes.

Hospital group settles 403(b) lawsuit for $2 million
NEWS RETIREMENT PLANNING NOV 23, 2021
Hospital group settles 403(b) lawsuit for $2 million

Southcoast Hospitals Group is one of many retirement plan sponsors targeted last year in class-action litigation brought by law firm Capozzi Adler.

Combatting senior abuse gets bipartisan backing
NEWS REGULATION AND LEGISLATION NOV 22, 2021
Combatting senior abuse gets bipartisan backing

The House Financial Services Committee approved by voice vote legislation to jump-start a state grant program. A backer is optimistic about its Senate prospects.

SEC warns of widespread issues with robo-advice
NEWS FINTECH NOV 22, 2021
SEC warns of widespread issues with robo-advice

The agency issued a risk alert and deficiency letters to almost all of the robo-advisers examined, citing shortcomings in how the companies manage portfolios and disclose conflicts. The alert could signal future enforcement actions.

Biden keeps Powell as Fed chief, names Brainard vice chair
NEWS REGULATION AND LEGISLATION NOV 22, 2021
Biden keeps Powell as Fed chief, names Brainard vice chair

The second four-year term for Jerome Powell rewards him for his work rescuing the economy from the pandemic and tasks him with protecting that recovery from surging prices.

Public opinion favors state auto IRAs, report finds
NEWS RETIREMENT PLANNING NOV 19, 2021
Public opinion favors state auto IRAs, report finds

State auto IRA programs, seen as a potential boon for small plan providers and PEPs, are supported by a majority of Democrats and Republicans, a recent survey found.