Washington Governor OKs Small Business Retirement Marketplace
Law uses Obama's MyRA plan to provide small business employees with access to retirement plans.
SEC’s Gallagher, Aguilar to Depart as Agency Crafts Fiduciary ‘Term Sheet’
Two commissioners are planning to exit as the agency drafts a term sheet on what a fiduciary rule should look like.
DOL Extends Fiduciary Comment Period by 15 Days
With the 15-day extension, “the initial comment period will be 90 days and the department anticipates the opportunity for public comments may be more than 140 days in total,” DOL says.
House, Senate Introduce Lifetime Income Disclosure Act
Participants in workplace retirement plans would receive an annual statement of how their lump-sum savings translate into a lifetime stream of monthly annuity income.
SEC Fines Nationwide $8M for Delaying Mailed Customer Orders
For more than 15 years, Nationwide intentionally delayed delivery of untracked mail containing orders from customers, SEC says.
Top GOP Senators Press DOL to Extend Fiduciary Comment Period
Majority Leader Mitch McConnell and HELP Committee leader Lamar Alexander were among those sending the letter asking for a 45-day extension.
SEC Private Fund Unit Focused on Conflicts, Real Estate Managers
"We’ve taken an investor protection view of regulating private equity," said SEC's Rozenblit.
FINRA Doubles Length of Suitability Suspensions, Toughens Fraud Sanctions
FINRA says it will be tougher on those committing fraud or making unsuitable recommendations and will increase suspensions for breaking suitability rules.
Sen. Hatch: SAFE Retirement Act Will Be Reintroduced
Senate Finance Chairman Orrin Hatch, R-Utah, plans to resubmit legislation to stop DOL from writing fiduciary rules for IRAs.
SEC Charges Radio Hosts With Misleading Life Settlement Investors
The Texas-based hosts falsely told investors that interests in life settlements they sold were guaranteed, safe as CDs and federally insured, the SEC says.