SEC Finds Merrill Lynch Traders Overcharged for RMBS
The brokerage firm will pay more than $15 million in settlement.
Tag: SEC
SEC Seeks Comments on Fund Disclosures and the Fees Charged for Them
The agency also adopted a new rule allowing fund companies to share information via the Internet.
Barry’s Pickings: The Possibility of a ‘Provider’s ERISA’
Michael Barry, president of October Three (O3) Plan Advisory Services LLC, discusses how the Securities and Exchange Commission’s (SEC)’s broker/investment adviser standard-of-conduct proposal would be necessary to the creation of a provider-based retirement system.
Appeals Court Rejects AARP, State Arguments to Revive DOL Fiduciary Rule Process
The decision puts another layer of finality on the fate of the now-defunct Department of Labor fiduciary rule expansion, meaning the compliance landscape has shifted yet again for plan sponsors.
New Conflict-of-Interest Proposal Expected from SEC
As the Department of Labor (DOL) fiduciary rule process appears destined for defeat, experts speculate about the possibility that the SEC could take its own regulatory actions to address adviser conflict of interests; some say a new SEC rule could be proposed this week.
SEC Proposes Moving Public Liquidity Risk Disclosure to Annual Reports
This would replace a pending requlation that would have required the disclosure to be made on Form N-PORT on a quarterly basis.
SEC Deadline for Open-End Fund Liquidity Classification is Extended
However, the deadlines for creating a liquidity risk management program and to limit illiquid investments to 15% of a fund’s portfolio remain unchanged: December 1, 2018, for larger fund groups and June 1, 2019, for smaller fund groups.
Retirement Funds Among Targets of Securities Fraud
Brokers serving retirement plans and other institutional investors were accused of routing orders for equities to an offshore affiliate in Bermuda that “executed them on a riskless basis and opportunistically boosted profits by adding a mark-up or mark-down on the price of a security.”
The SEC Forms Fixed Income Market Structure Advisory Committee
The committee's initial focus will be on the corporate bond and municipal securities markets.
Dodd-Frank, Fiduciary Rule Repeal Progresses in Congress
A bill that would repeal much of the Dodd-Frank Wall Street Reform Act and block the DOL fiduciary rule has cleared the House Financial Services Committee.
Company Stock Registration Not Necessarily Required With Brokerage Window
The SEC says whether offering a brokerage window in a 401(k) through which investments in employer securities can be made involves an offer of employer securities requiring Securities Act registration depends on the extent of the plan sponsor’s involvement.
What to Anticipate from Washington for Retirement Plans
While retirement industry regulators have been busy, not much has come out of Congress affecting retirement plans, but that may soon change.
House Passes Bill Opposing Fiduciary Rule
The Retail Investor Protection Act is likely to be vetoed by
the White House.
Regulatory Change Brewing Beyond Fiduciary Rule
Focus on DOL’s fiduciary rulemaking is understandable—but
there are other major regulatory changes in the works that will directly impact
retirement plans.
SEC Faces Its Own Debate on Fiduciary Advice Standards
Transcripts from a tough SEC hearing called earlier this
month show it's not just the Department of Labor considering changes to the
application of the fiduciary standard.
House Members Push DOL for Fiduciary Rule Details
A bipartisan group of U.S. House members penned an open letter to the Department of Labor that demands more detail be shared about the ongoing fiduciary redefinition effort.
Advisers Gain Congressional Allies in Fiduciary Definition Debate
A
number of elected officials have emerged on the side of financial advisers in
opposing the Department of Labor’s fiduciary redefinition effort—introducing ambitious
legislation to block changes to the fiduciary standard.
ERIC Names New Chief Executive
Annette Guarisco Fildes has been appointed CEO of the ERISA Industry Committee.
SEC Toughens Security-Based Swap Data Reporting Rules
The Securities and Exchange Commission adopted several sets of rules and proposed others related to data collection and reporting for security-based swap data repositories.
SEC Adopts Money Market Fund Reform Rules
July 23, 2014 (PLANSPONSOR.com) – New Securities and Exchange Commission (SEC) rule amendments establish structural and operational reforms aimed at addressing “run risks” in money market funds.