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Retirement Plan › Securities and Exchange Commission (SEC) › Retail Investors

Mayer Brown Free Writings + Perspectives

SEC Office of the Investor Advocate Report

Mayer Brown Free Writings + Perspectives on

Pursuant to the Securities Exchange Act, the Investor Advocate is required to file two reports annually with the Committee on Banking, Housing and Urban Affairs of the Senate and the Committee on Financial Services of the...more

Faegre Drinker Biddle & Reath LLP

Rollover Recommendations – Do the SEC and DOL Requirements Align?

Faegre Drinker Biddle & Reath LLP on

The SEC and the DOL have separately issued guidance on rollover recommendations – however, a close examination indicates that the guidance by both agencies is very similar. The SEC’s guidance for broker-dealers is in...more

Goodwin

SEC Staff Provides Guidance on Broker-Dealer and Investment Adviser Standards of Conduct For Account and Rollover Recommendations...

Goodwin on

U.S. Securities and Exchange Commission staff recently published a bulletin reiterating the standards of conduct applicable to broker-dealers and investment advisers when making account recommendations to retail investors....more

Proskauer - The Capital Commitment

SEC Cracks Down on Pension Fund Advisers’ Undisclosed Compensation and Conflicts

Proskauer - The Capital Commitment on

In August 2020, the SEC issued two orders against VALIC Financial Advisors Inc. (VFA) related to VFA’s management of 403(b) and 457(b) plans. These matters arise out of two of the SEC’s enforcement initiatives, the Teachers...more

Bradley Arant Boult Cummings LLP

State and Federal Regulators Open Probe into 403(b) Plans for Teachers

Bradley Arant Boult Cummings LLP on

In what appears to be a growing trend, state and federal regulators are launching investigations into the sales practices and administration of 403(b) retirement plans for school districts. Two weeks ago, on January 10,...more

Eversheds Sutherland (US) LLP

The SEC’s new standard of conduct rules – application to retirement accounts

Eversheds Sutherland (US) LLP on

On June 5, 2019, the US Securities and Exchange Commission (SEC) adopted its Regulation Best Interest (Rule 15l-1 under the Securities Exchange Act of 1934), a rule that requires a broker-dealer registered with the SEC to act...more

Herbert Smith Freehills Kramer

SEC Adopts Regulation Best Interest and Related Rules and Interpretations

Herbert Smith Freehills Kramer on

On June 5, 2019, the SEC adopted a package of rules and interpretations (the Adopted Rules) to clarify and further articulate the relationship between retail investors and their broker-dealers or investment advisers....more

Eversheds Sutherland (US) LLP

Proposed Regulation BI coverage of retirement investors

Eversheds Sutherland (US) LLP on

There is some debate about the intended scope of Regulation Best Interest (Regulation BI) as proposed by the Securities and Exchange Commission (SEC) in the case of retirement investors. Generally, proposed Regulation BI...more

Mintz - Employment Viewpoints

Fifth Circuit Court of Appeals Invalidates the 2016 Final Department of Labor Fiduciary Rule and Related Prohibited Transaction...

Mintz - Employment Viewpoints on

What’s a financial advisor to do? On March 15, 2018, the Fifth Circuit Court of Appeals in Chamber of Commerce of the U.S. v. U.S. Dep’t. of Labor, No. 17-10238, 2018 U.S. App. LEXIS 6472 (5th Cir. Mar. 15, 2018) vacated –...more

Sullivan & Worcester

Asset Managers: Are You Ready for Your Exam? Steps You Should Take Now

Sullivan & Worcester on

Last week we told you about the five biggest pet peeves of the SEC’s Office of Compliance Inspections and Examinations (OCIE) when examining investment advisers. This week, we want to get you ready for your exam. Here are the...more

Bradley Arant Boult Cummings LLP

SEC Examination Priorities for 2017 – What do Robots, Senior Investors, and Payment for Order Flow Have in Common?

Bradley Arant Boult Cummings LLP on

This week, the SEC’s Office of Compliance Inspections and Examinations (OCIE) released its Examination Priorities for 2017 that reflects certain practices, products, and services that OCIE perceives to present potentially...more

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