Just as the problems with Target Date Funds go mainstream, the GAO asks the DOL to look into disclosure rules that could torpedo annuities in 401k plans. Oh, and the House calls the SEC’s bluff.
Tag "fiduciary"
You’d trust someone who had your interests at heart. Would you give your trust to someone who didn’t? How can you tell if someone places your interests first?
This week sees more on the part of the BD industry trying to pit the DOL against the SEC, the revelation of an interesting “opt-out” feature in the new DOL financial definition that may invalidate the entire effort and a surprise response from the SEC.
This week was an important week for plan sponsors worried whether their 401k decision would come back to bite them. Yet, despite the media blather, one quote stands out as the ultimate truth. We’ve got it for you here.
Thus were lines drawn in the sand. We’re left to wonder if the tide of time will wash away those lines or merely wash away the sense of urgency for a uniform fiduciary standard.
If the major networks prefer to use former professionals as color announcers for sports events, why don’t they use specific industry professionals to write these types of stories for the mass media?
One the dust settled, the rejoicing stopped and outright concern rose. Perhaps the Republicans on the SEC Commission were right, albeit for the wrong reasons.
This was perhaps the most critical regulatory week in years with the SEC issuing two highly anticipated reports, including the Fiduciary Standard report. Many of this week’s articles explain the intrigue behind the SEC’s doings.
This one paper almost accidentally seals the deal for the fiduciary standard, exposes the conflict-of-interest created by 12b-1 fees and, dare we say, touches the forbidden third rail of all investment research…
Fiduciary News Trending Topics for ERISA Plan Sponsors: Week Ending 3/25/11
A day in the life of a fiduciary, from a foreboding dawn, to the doom of high noon, to the sun setting on an old friend, to the restless night. What a week it’s been.