The Labor Department's Employee Benefits Security Administration recovered about $2.4 billion in fiscal 2021, down from $3.1 billion a year prior.
WestPark Capital's information in the sale of $3.9 million worth of promissory notes was faulty, according to the regulator.
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.
Southcoast Hospitals Group is one of many retirement plan sponsors targeted last year in class-action litigation brought by law firm Capozzi Adler.
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.
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.
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.
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.
The House measure lifts the cap on state and local tax deductions to $80,000 from the current $10,000 limit, while a Senate proposal would cap the deduction based on income.
The agency seized $3.5 billion worth of cryptocurrencies in fiscal 2021, accounting for 93% of all assets seized, and an IRS official says he expects that trend to continue next year.
The agency filed 434 new cases in fiscal 2021, while ordering $3.9 billion in penalties and disgorgement, down from $4.7 billion in fiscal 2020.
In a recent speech, SEC Commissioner Allison Herren Lee pointed out how the annuity rule differs from Reg BI on mitigating conflicts of interest.
Democrats back the legislation, but Republicans are united against it. While the measure was passed by a House committee, an advocate calls winning congressional approval a 'Herculean task.'
The regulator is considering how to utilize in-person and remote participation to capture 'the best of both worlds,' CEO Robert W. Cook said.
Mercy Health Corp. was sued last year over plan fees and investment options. Separately, a new lawsuit was filed against Olin Corp.
Developing a tailored regulatory filing form for RILAs could help investors better understand the product. The proposal has the backing of the insurance industry and investor advocates.
Opponents of Washington's long-term care insurance program are claiming that it violates a handful of laws.
Generally, financial industry groups encouraged state regulators to narrow the measure, while advocates want them to expand it.
Finra said at the start of the year it was looking into possible violations by registered representatives who applied for coronavirus-relief loans.
House Democrats have proposed increasing the cap to $80,000 from $10,000 through the end of the decade; Senate Democrats are working on a less generous option.
