Legislation

Displaying 1999 results

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SEC chief signals new rules that could threaten Robinhood, Citadel

In remarks prepared for a House hearing Thursday, Gary Gensler shines a spotlight on online brokerages and market makers that dominate the business of executing retail investors' equity orders.

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House panel unanimously passes SECURE 2.0

The bill, which advances to the House floor with a strong bipartisan push, would raise the RMD age from 72 to 75, among many other provisions.

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House committee poised to advance SECURE 2.0 retirement savings bill

The bill, which builds on the SECURE Act, would raise the required minimum distribution age from 72 to 75 over 10 years.

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Wall Street banks summoned by regulators over Hwang’s blowup

The Securities and Exchange Commission summoned the banks for hasty meetings on what triggered the forced sale of more than $20 billion of stocks linked to Hwang’s Archegos Capital Management.

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Financial Services Institute defends Reg BI under new administration

Fiduciary advocates are pressing the Securities and Exchange Commission to overhaul the measure. FSI and other industry groups will lobby to keep it intact.

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Fiduciary advocates urge SEC to rename Reg BI, eliminate broker conflicts

In addition changing Reg BI's nomenclature, the Institute for the Fiduciary Standard called for eliminating some broker conflicts of interest, such as compensation incentives for product sales, revising the disclosure Form CRS and clarifying that investment advisers must avoid conflicts of interest rather than just disclosing them.

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Dramatic changes to legislation seem unlikely despite full Democratic control

An evenly divided Senate might tweak rather than overhaul investment-advice policy, such as the treatment of rollovers, while resisting some tax increases Biden advocated during the election.

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Bill seeks to open multiple-employer plans to 403(b)s

The measure follows legislation that would let nonprofits participate in pooled employer plans

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DOL lifetime income rule under fire from lawmaker

Sen. Richard Neal, D-Mass., criticized the measure for not including an assumption that 401(k) balances appreciate

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New bill would require advisers to consider socially responsible investing in retirement plans

Michigan Democrat Andy Levin plans to introduce two bills in the House addressing ESG

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401(k) firms line up for PEPs, anticipating big business in 2021

Registration for pooled plan providers begins later this month, but some companies are already announcing their plans

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DOL issues key rule for pooled employer plans

Pooled plan providers will be able to register beginning later this month and launch plans at the beginning of the new year

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DOL’s ESG rule an instance of America’s divide

It appears unlikely a Biden administration would be able to overturn the rule

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A divided government? No problem, most advisers say

There's a sense of relief that the extremes of both parties would be tamped down by a Biden presidency and a Republican Senate

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Most investors regret tapping 401(k)s early — but would do it again

COVID-19 could lead more workers to take money out of retirement accounts, according to a survey from Edelman Financial Engines

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Stocks hit on COVID concerns, fading hopes for fiscal stimulus

Stocks pared their losses during the afternoon as the biggest tech companies recovered

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Auto-IRA states, AARP blast CalSavers lawsuit claims

Oregon, Illinois and others are backing California in a legal attack on the state's auto-IRA system, while the Trump administration has taken the opposite side

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Savings in DC plans increase, but outcomes remain ‘bleak’

Only the top 40% of near-retirement 401(k) participants by income have enough saved for retirement

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Are MEPs the next big target for lawsuits?

At least three cases were filed recently against providers of multiple employer plans, and two other cases have been settled

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CalSavers registers thousands of businesses, will see bump

Numerous other state auto-IRA programs are in development, and the plans should be thinking about drawdown strategies, a report suggests