Displaying 18 results
Biden perpetuates advisor tropes, but end goal is valiant
The president's deal in describing a few bad apples risks tarring the whole industry with the same brush.
Senate passes anti-ESG bill; Biden threatens first veto
The bill to block a Labor Department rule making it easier for retirement plans to weigh ESG issues in investment decisions passed 50-46, with two Democrats voting with Republicans to pass the measure.
The ’secret’ of advisor job security
As long as wealth management firms can continue to attract and retain knowledgeable and empathetic individuals, financial advisors should always have a job.
Yellen says crypto is ‘very risky’ option for retirement savers
Treasury chief says it would be reasonable for Congress to regulate what assets could be included in tax-favored retirement vehicles.
U.S. inflation quickens to 8.5%, ratcheting up pressure on Fed
Consumer prices rose 1.2% from February, the biggest gain since 2005 as gasoline costs drove half of the monthly increase.
DOL sues employee benefit plan fiduciaries for over $2.8 million
The Labor Department charges a Chicago fund's fiduciaries and counsel with committing multiple ERISA violations.
Half-point Fed hike in March is a coin flip after hot inflation
U.S. consumer prices jumped in January by more than expected, representing a bigger hit to Americans’ paychecks as inflation charges ahead at the fastest pace since 1982.
Labor Department’s ESG proposal attracts ire from the anti-‘woke’
The agency received a trove of public comments on its proposed ESG changes, and many were penned by people concerned about a perceived liberal agenda.
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.
ESG, the proposed DOL rule and fiduciary duty
The Labor Department's proposed ESG rule is a great step forward. The transition to a more sustainable economy will require increased attention to material risks and opportunities, including those related to ESG factors.
Labor Department issues ESG rule proposal for 401(k)s
The proposal seeks to clarify that ESG factors can be financially material. It also specifies that such investments can be used as part of the default investment options in 401(k)s.
Former lawyer to pay $42 million for life insurance fraud
Defendants in the long-running case have been ordered to pay restitution to more than 200 plans. Assets were allegedly siphoned from benefits payments to buy property and used for other personal expenses.
Democrats press Labor Department for update on ESG rules
In a letter to Labor Secretary Marty Walsh, Democrats asked for an update on the DOL’s rule proposals on ESG criteria. Last year, the Trump administration DOL finalized two rules that tamped down on use of so-called nonpecuniary factors in investment selection.
Goldman wins exemption from Labor Department’s pension overseer
The Employee Benefits Security Administration gives the firm a green light to oversee retirement plan assets despite its 1MDB misdeeds
DOL releases guidance on Trump-era fiduciary rule
In a set of frequently asked questions, the agency said a recommendation to rollover retirement funds from a company plan to an individual retirement account can be part of an ongoing client-adviser relationship and trigger a fiduciary standard of care.
No excuse not to find missing plan participants
The Labor Department has stepped up its audits of plans that have lost track of participants, and noted last month that in 2020 alone, investigators had helped reunite missing participants with plan benefits “with a present value in excess of $1.4 billion.”
Labor rule on ESG already trimming fund options for retirement plans
Some retirement plan advisers have cut green investing options from 401(k) plans following Trump's last-minute rule change.
End the confusing muddle of advice standards
Establishing an easily understood rule for advisers shouldn't be this difficult
