Compliance | September 2nd, 2022 EBSA Issues New Audit Independence Guidance A new bulletin addresses the ‘independence’ requirement for accountants who audit employee benefit plans under the Employee Retirement Income Security...
Compliance | August 3rd, 2022 Complexity of QPAM Proposal Could Be a Concern Attorney calls the objectives of EBSA's proposed amendment 'sensible,' but said implications could be 'unexpected and worrying.'
Compliance | July 27th, 2022 Qualified Professional Asset Manager Exemption Changes Proposed The Department of Labor’s proposal will affect a prohibited transaction exemption that permits certain parties related to retirement plans to...
Compliance | June 8th, 2022 Confirmation Vote for Lisa Gomez Fails in the Senate Majority Leader Chuck Schumer voted against the confirmation so that it can be brought up again at a later date.
Deals and People | May 20th, 2022 EBSA Nominee Headed for Confirmation Vote A Senate vote is scheduled for next week on the appointment of Lisa Gomez as head of the Employee Benefits...
Compliance | March 10th, 2022 DOL Issues Warning About Crypto Assets in DC Plans The lead regulator of employer-sponsored retirement plans says cryptocurrencies and other digital assets are subject to a variety of issues...
Compliance | January 13th, 2022 Senate Committee Advances EBSA Secretary Nominee Lisa Gomez, the candidate to serve as the DOL’s assistant secretary for the Employee Benefits Security Administration, will now face...
Compliance | November 30th, 2021 Report Offers Insight on How DOL Gets Leads for Benefit Plan Enforcements The Employee Benefits Security Administration recovered $2.4 billion for plans, participants and beneficiaries in FY 2021.
Compliance | November 5th, 2021 Service Provider Collaboration and the DOL’s Cybersecurity Guidance Retirement plan sponsors may have difficulty achieving full compliance with the DOL’s cybersecurity guidance because many of the required actions...
Compliance | October 6th, 2021 DOL’s ESOP Valuation Case Against Engineering Firm Falls Flat The court notes that the ESOP trustees, while accepting a price very close to what the sellers were seeking, saved...
Compliance | September 14th, 2021 DOL Asks for Comments on Proposed Changes to Form 5500 The agency—which says the revisions are needed to implement provisions of the SECURE Act—has also published a notice of proposed...
Compliance | September 3rd, 2021 Former Fiduciary Sanctioned Over Illegal Transaction The Department of Labor says the fiduciary diverted tens of millions of dollars in plan assets for their own personal...
Compliance | April 14th, 2021 DOL Issues Guidance for Investors, Plans on Investment Advice Exemption It sets forth questions an investor can ask potential advice providers and information to help them understand the purpose of...
Compliance | March 10th, 2021 DOL Holding Off on Enforcing ESG, Proxy Voting Rules Until the publication of further guidance, the department says it will not enforce either final rule or pursue enforcement actions...
Compliance | March 5th, 2021 EBSA Disaster Relief Notice Highlights Pandemic’s Lasting Impact This latest regulatory development is just another piece of evidence underscoring how extraordinary the last 12 months have been.
Compliance | February 4th, 2021 Labor Secretary Nominee Walsh Shines in Confirmation Hearing During the confirmation hearing, Boston Mayor Marty Walsh was complimented as being fully qualified for the role of labor secretary...
Compliance | January 13th, 2021 DOL Offers Guidance for Locating Missing Participants Guidance in three parts offers suggested processes for DC plans and DB plans and reveals errors DOL staff should look...
Deals and People | January 8th, 2021 Marty Walsh Will Be Nominated as Secretary of Labor Apart from potentially reversing course on fiduciary rule-related regulations, there are many other areas where sources suggest the next DOL...
Compliance | October 29th, 2020 DOL ERISA Enforcement Results Increase From Previous Year The agency’s enforcement report describes some ways enforcement actions are initiated.
Compliance | September 28th, 2020 Some View EBSA Income Projections as Too ‘Prescriptive’ Recordkeepers and asset managers want more flexibility in terms of how their clients generate newly mandated lifetime income projections on...