News & Analysis as of

Retirement Plan Retirement Investment Adviser

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (34): The “Hire Me” Exception

The DOL’s final regulation defining non-discretionary fiduciary advice will be effective on September 23 of this year. If a conflicted fiduciary recommendation is made, the requirements (called “conditions”) of PTEs...more

Kilpatrick

5 Key Takeaways | Optimizing Retirement Plan Investment Committee Performance

Kilpatrick on

Members of Kilpatrick’s Employee Benefits and Investment Management Teams recently presented a webinar on the topic of “Optimizing Retirement Plan Investment Committee Performance.” The discussion was focused on helping...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (8): Special Issues—Robo Advice and Investment Education

The U.S. Department of Labor has released its package of proposed changes to the regulation defining fiduciary advice and to the exemptions for conflicts and compensation for investment advice to plans, participants...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Creative Planning buys Mesirow Team

Registered investment advisor (RIA) Creative Planning announced the purchase of Mesirow’s corporate retirement advisory services team....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Sageview buys another firm

Registered Investment Advisor firm SageView Advisory Group sadd that it has acquired two of the founders and managing partners of San Diego-based Retirement Benefits Group (RBG....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - May 2022

Recent Changes That Plan Providers May Not Like - On Curb Your Enthusiasm, Ed Asner was a guest star, playing an elderly man who wanted to change his will. Based on a recommendation by Larry David, Ed’s character visited the...more

Faegre Drinker Biddle & Reath LLP

Best Interest Standard of Care for Advisors #87: Specific Reasons for Rollover Recommendations That Won’t Work (Part 1)

The DOL has issued FAQs that generally explain PTE 2020-02 and the expanded definition of fiduciary advice, particularly for rollover recommendations. The DOL’s expanded definition of fiduciary advice was described in...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Where to sell PEPs? Start with states that force employers to have plans

Where to sell Pooled Employer Plans? A good start is the states where employers have to offer retirement plans. 12 states and one city have enacted laws that, generally, require certain employers without their retirement...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Let them remember you for the right reasons

As you know, Congressman Jamie Raskin (D-MD) was booked for That 401(k) National Virtual Conference. As you also may know, Congressman Raskin was the Associate Dean at American University Washington College of Law when I...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - November 2020 #2

Stuff That Won’t Help A Retirement Plan Sponsor Limit Their Liability - A seat belt in a car is useless if the driver or passenger isn’t wearing it. A smoke detector is useless if the batteries are dead. Vitamin C won’t...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

All you need is just a little patience

I always talk about my open-door policy with financial advisors and third party advisors where I will help these plan providers out without me actively seeking their business. I kind of have that liberty because it’s my law...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

They may not like answer, but it is, what it is

When it comes to my law practice, I have an open phone call policy. I entertain phone calls from financial advisors and TPAs around the country and try to help them by answering questions regarding their current clients or...more

K&L Gates LLP

An Overview of Legal, Regulatory and Plan Design Considerations for States

K&L Gates LLP on

Americans are facing a retirement crisis. The foundation for building a secure retirement — Social Security, employer-provided pensions, and personal savings — has been weakened because most private sector companies no longer...more

Snell & Wilmer

Fiduciary Rule to Go Into Effect but DOL Provides Temporary Non-Enforcement Policy

Snell & Wilmer on

As reported in our April 18th blog, the Department of Labor (“DOL”) officially delayed the applicability of the Fiduciary Rule for 60 days, until June 9, 2017. Given the multiple delays leading up to the proposed June 9th...more

Robinson & Cole LLP

DOL Issues Final Rule Delaying Fiduciary Rule until June 9, 2017

Robinson & Cole LLP on

As ordered by President Trump in a presidential memorandum on February 3, 2017, (Memorandum), the U.S. Department of Labor (DOL) proposed a 60-day delay to its conflict of interest rule (commonly referred to as the “fiduciary...more

Proskauer - Employee Benefits & Executive...

USDOL Prevails in Kansas in Another Decision on Fiduciary Rule

On February 17, 2017, a federal district Court in Kansas upheld the U.S. Department of Labor’s conflict of interest rule and related exemptions in a suit brought by Market Synergy Group, Inc. This ruling on the merits follows...more

Burr & Forman

DOL Fiduciary Rule Still On for April 10 Implementation

Burr & Forman on

The Department of Labor’s Fiduciary Duty Rule remains on track for April 10 implementation, notwithstanding a maelstrom of hype about it. Nearly everyone expected the new administration would delay the Rule – and many...more

K&L Gates LLP

Pennsylvania Treasurer Prohibition on Third-Party Placement Agents

K&L Gates LLP on

The Treasurer of the Commonwealth of Pennsylvania has prohibited investment managers from using third-party placement agents for funds managed on behalf of the Commonwealth of Pennsylvania Treasury Department. The Treasury...more

Robinson & Cole LLP

President Trump Calls for a Review of DOL’s Fiduciary Rule

Robinson & Cole LLP on

On February 3, 2017, President Trump signed a presidential memorandum (Memorandum) ordering the U.S. Department of Labor (DOL) to review its conflict of interest rule defining the term “fiduciary” for retirement investment...more

Neal, Gerber & Eisenberg LLP

President Trump Issues Memorandum on Fiduciary Rule Likely Leading to Delayed Compliance Date

On February 3, 2017, President Trump issued a memorandum directing the Department of Labor to prepare an updated economic and legal analysis of its “Fiduciary Rule.” Compliance with the Fiduciary Rule is generally required on...more

Stinson - Corporate & Securities Law Blog

Trump Requires DOL to Reevaluate the Fiduciary Rule

Under current law, stockbrokers are only required to recommend suitable investments to their clients. The Department of Labor has issued a so called “fiduciary rule” which requires brokers, advisors and insurance agents, when...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

RBS has agreed to pay $85 million to the CFTC to resolve allegations that its traders “manipulated the ISDAfix benchmark rate over a period of five years to benefit the bank’s derivatives positions”....more

Ballard Spahr LLP

Investment Management Update - October 2015

Ballard Spahr LLP on

Below is a summary of recent investment management developments that affect registered investment companies, private equity funds, hedge funds, investment advisers, and others in the investment management industry. Schwab...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Advisors Advantage - August 2015

How Retirement Plan Providers Can Avoid Communication Problems. It's all about relationships and communication. Life is all about relationships, whether it's family, friends, or business. Whether it's starting a...more

Proskauer - Corporate Defense and Disputes

The Battle Lines Continue to Form Over the DOL’s Fiduciary Proposal

Earlier this month, the Securities Industry and Financial Markets Association (“SIFMA”) released its “Proposed Best Interests of the Customer Standard for Broker-Dealers” – an alternative to the U.S. Department of Labor’s...more

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