But SEC’s Mary Jo White maintains SEC and DOL are "two different agencies"; says more exam "coverage" is needed for advisors.
Amendment would require Labor Department to work with SEC on revised standard
“We are looking for the best ideas on how to show people what their lump-sum retirement savings look like when they are spread out over all the years of retirement,” said Phyllis Borzi.
The failure of the SEC and DOL to collaborate on their “overlapping” fiduciary rules on IRA advice will render the SEC’s current cost-benefit analysis worthless, says Kent Mason of Davis & Harman.
U.S. Jobless Claims Fall to 323,000 in Week
The Congressional Black Caucus is warning the DOL that its plan to extend ERISA’s fiduciary standard to IRAs will hurt African-American savers.
Pay close attention to three areas of the DOL ’s reproposed fiduciary rule once it’s released in July, says Brad Campbell, former head of EBSA.
Your small-business-owning clients may be looking for ways to reduce or defer the taxes they will incur should they sell their business. An ESOP strategy can work well, but be wary of DOL inquiries.
The DOL plans to repropose its controversial rule to amend the definition of fiduciary under ERISA “in several months,” Phyllis Borzi the DOL ’s EBSA, told AdvisorOne on Friday.
This week in new hires, Security Benefit welcomed George Beale and Jeffrey Kayajanian, CapWealth named Phoebe Venable president and COO, and the DOL named five new ERISA Advisory Council members.