On June 29, 2020, the Department of Labor (“DOL”) announced1 its new approach to the standards for financial institutions and investment professionals who provide investment advice on a nondiscretionary basis to 401(k) plans,...more
8/7/2020
/ 401k ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Policies and Procedures ,
Prohibited Transactions ,
Regulation Best Interest ,
Retirement Plan
Many registered investment advisers (“RIAs”) have obtained loans guaranteed by the U.S. Small Business Administration (SBA) under the Paycheck Protection Program (“PPP”). Applicants for PPP loans were required to make certain...more
On February 21, 2020, the Massachusetts Securities Division (the “MSD”) announced the finalization of its fiduciary rule. Part I summarized the evolution of Massachusetts Fiduciary Rule (“Fiduciary Rule”) and the...more
Last Friday, the staff of the SEC Division of Investment Management (the “Staff”) released an FAQ on disclosures of conflicts related to investment adviser compensation (the “FAQ”). The FAQ specifically focused on...more