by David Schwartz J.D. CPA | Dec 21, 2015 | All, Change Overview and Rationale, Formal Regulatory Remedies
Foes of the DOL’s proposed fiduciary rule suffered a setback last week when the House of Representatives passed an omnibus spending bill omitting any measures that would have stalled, hindered, or killed the proposal. On the table during budget negotiations were...
by David Schwartz J.D. CPA | May 21, 2015 | All
In a unanimous opinion issued on May 18, 2015, the Supreme Court confirmed a continuing duty of ERISA trustees to monitor investments. Although the case involved a complicated procedural history before arriving at the Supreme Court, the lawsuit presented a fairly...
by David Schwartz J.D. CPA | Apr 13, 2015 | All, Change Overview and Rationale, Formal Regulatory Remedies
The Department of Labor has issued its long awaited reproposal of fiduciary standards for advisors of ERISA retirement plans. These new rules propose to expand the scope of the the definition of fiduciary under ERISA in order to capture more of the current services of...
by David Schwartz J.D. CPA | Mar 24, 2015 | All, Formal Regulatory Remedies
In a March 4, 2015 letter, two House Republicans requested answers from Department of Labor (DOL) Secretary Thomas E. Perez about the process for devising new fiduciary rules for investment professionals providing services to retirement plans. Representative John...
by David Schwartz J.D. CPA | Mar 19, 2015 | All, Change Overview and Rationale, Formal Regulatory Remedies
Pursuant to a mandate in the Dodd-Frank act, both the Department of Labor and the Securities and Exchange Commission have been working to develop uniform fiduciary standards for investment advisers and broker-dealers. The efforts of the DOL and SEC have unfolded over...
