AICPA Attacks DOL Fiduciary Plan’s ESOP Language
AICPA urges lawmakers to support bills that would ensure independent appraisers of ESOP are not designated as fiduciaries.
DOL 408(b)2 Fee Disclosure ‘Guide’ Lands at OMB
ERISA guru Fred Reish says proposed reg could spell more expense for retirement plan service providers.
DOL Fiduciary Redraft Has ‘Left the Station’
The confirmation of Assistant Attorney General Tom Perez as the new secretary for the Department of Labor on Thursday will not hinder the DOL’s release of its fiduciary reproposal, which the department says will come in October.
DOL’s Borzi: Lawmakers Can’t Hold Back Fiduciary Plan
Efforts by members of Congress to slow the DOL’s reproposal of its fiduciary rule will have little to no effect, Phyllis Borzi, assistant secretary of DOL’s Employee Benefits Security Administration, said Tuesday.
New Hire Roundup: Senate Finance Names Getz Tax Counsel
This week in new hires, Kara Getz joined the Senate Finance Committee as tax counsel, and ICI named Michelle Mesack director of financial services policy.
SEC Budget Faces $108M Cut Under Sequester; House GOP Blasts SEC’s ‘Misplaced Priorities’
Republicans on the House Financial Services Committee criticized the agency Tuesday for “repeatedly failing to fulfill any part of its mission.”
SEC Mulls Rule Proposal on Corporate Political Spending
The date, however, when such a proposal would be released remains unclear.
IRS Says 44% Cut in Tax Rates OK With Us
If Congress were to eliminate all tax expenditures, it could cut individual income tax rates by about 44% and still generate about the same amount of revenue, the IRS' taxpayer advocate said in a report that went mostly unnoticed.
Obama’s Treasury Secretary Pick Is Said to Be Jack Lew
Nomination would signal White House intent to “keep Treasury close” to its sphere of influence.
BDs Bear Burden of New SEC Rules on Lost Security Holders
The SEC approval, which was unanimous, requires broker-dealers to conduct searches for holders of securities with whom they have lost contact.