Articles tagged "DOL"
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ERISA attorney co-founds venture to take advantage of DOL's liberal new pooled 401(k) plan guidelines, a boon for RIAs looking to break into the business
The new San Diego firm will be a TAMP-like unit that gives a way for small companies to get big-plan leverage while still letting RIAs handle the investment advice, says CEO Jason Roberts.
June 23, 2022 at 6:56 PM
Fidelity shrewdly side-steps DOL 's 401(k) crypto guidance--and ERISA -- to pioneer profit center by adding Bitcoin to plan menus, knowing plan sponsors are game to shoulder the liability if need be
The $12-trillion Boston firm shocked everyone with the timing of the 'seminal' move, the Labor Dept.'s tut-tutting 'guidance' not withstanding, after concluding Bitcoin's volatile days are behind it.
April 29, 2022 at 2:08 AM
Dept. of Labor throws its 2020 self under the bus and walks back Trump-era guidance that appeared to open the door to private equity investments in 401(k) plans
A Trump administration 'information letter' affirmed that PE investments could be an 'enhanced' investment option for participants in defined contribution plans under ERISA.
December 23, 2021 at 3:25 AM
Big effect of DOL's proposed undoing of Trump-era 401(k) ESG investing chill is to permit ESGs TDFs as default option where BlackRock and Natixis have products
The Labor Dept. stops short of giving fiduciaries environmental, social and governance factor carte blanche but recognizes non-pecuniary factors are legit considerations.
October 14, 2021 at 1:08 AM
The DOL's Trump-era reprieve from rollover fiduciary rigor is over with aspects of remedy that might 'scare the daylights' out of defense lawyers
The Biden DOL is cool with surprisingly toothy rules it inherited that are sure to cause some RIAs to scramble and may be easier for broker-dealers to manage.
February 13, 2021 at 2:29 AM
With the DOL's new rule 95% likely to get finalized, RIAs need to be wary -- it targets them with new letter-of-the-law ERISA red tape
Right now, most RIAs recommend IRA rollovers without having to jump through a lot of hoops, but DOL's 'exemption' makes a federal case out of suggesting the move away from the protection of the employer’s plan
July 14, 2020 at 7:21 PM
New DOL fiduciary 'rule' unshackles broker-dealers to pursue commissions, declaring brokers ERISA fiduciaries by making simple disclosures
The new rule lets advisors 'exemption shop' and DOL promises brokers it'll take only about $35 worth of their time to mix commissions with advice.
July 10, 2020 at 2:21 AM
Oisín's Bits: With COVID-19 spiking in 27 states, RIA events like Wealth/Stack fight for late 2020 conference slots • Black Diamond taps startup Canoe for alternatives reporting • DOL quantifies RIA numbers
The InsideETFs event will compete with InvestWest for coveted late 2020 date, but without Josh Brown's stardust • SS&C's move follows Addepar advance and will include Advent products• The DoL sees net gains in RIAs of about 300 a year
July 8, 2020 at 2:23 AM
New 'anti-regulatory' DOL Fiduciary Rule figures to keep $10-trillion IRA market under the IRS, allow some conflicted advice; does Rule's revival from dead presage Joe Biden presidency?
The rush to enact rewritten DOL Fiduciary Rule is a 'mystery' given Wall Street's presumed preference for defaulting to status quo; has presidential polling adverse to Donald Trump restored a sense of urgency?
June 4, 2020 at 2:28 AM
Fidelity's 2016 'secret' fee fix for 'broken' 401(k) business model may spark fresh state and federal 401(k) crackdown on heels of investor civil suits
The DOL, William Galvin and a class action hang over the Boston 401(k) king's 15-basis-point fee, but experts think Fidelity -- its squirrel-y disclosure aside-- can fight the charges
March 18, 2019 at 9:28 PM
Posse of top cops from 17 states dresses down SEC, demand same fiduciary standards for broker-dealers and RIAs and cite other 'egregious' deficiencies in proposed son of DOL rule
Since the 5th Circuit Court of Appeals in March struck down the Department of Labor's (DOL) embattled "fiduciary rule," broker-dealers have been operating with a virtual "get-out-of-jail-free" card
August 10, 2018 at 8:18 PM
How Scottrade's 'pain'-seeking sales tactics and 'cut-and-paste' lawyering allegedly led to breaching a DOL rule
Massachusetts securities cops seized on DOL rule clause still under delay and seeded effects for brokerage business that are pervasive and lasting
March 1, 2018 at 1:08 AM
The top 10 most-read RIABiz articles of 2017 told stories about what RIAs, brokers, vendors can get away with post-DOL rule
Change is abrupt, pain is severe but most of it can be traced to custodians and advisors taking their medicine preemptively
December 28, 2017 at 8:49 PM
Pro-DOL rule forces sharpen knives now that DOL rule's 18-month delay is carved in stone
Labor Department loses formerly effective duck-and-weave defense tactic after 'U-turn' toward a more Wall Street golden goose ethos
November 28, 2017 at 10:14 PM
Why brokers can't exactly relax even after DOL promises, in effect, to drop BICE from its rule, then delays it 18 months
Attorneys caution DOL-weary execs that Department of Labor can't huff, puff and ramrod through a big change, and even a rule delay is fraught for brokers that treat it as a pure reprieve
