The SDDco Client Update
The SDDco Client Update is an action oriented email prepared in-house, tailored to client needs, and sent as an adjunct to our online newsletter. Verified newsletter subscribers receive our Client Update once each month.
The SDDco Client Update is intended to provide general information only. It is not intended as, and should not be taken as, financial, tax, accounting, legal, consulting or any other type of advice specific to you or your firm. Users of the SDDco Client Update should not act or refrain from acting on the basis of information provided on the sddco.com website. Always check with your accountant and/or attorney.
Last week, Senators Chuck Grassley (R-Iowa) and Jack Reed (D-Rhode Island) cosponsored the Stronger Enforcement of Civil Penalties Act (“SEC Penalties Act”) of 2015, a bill that would allow the Securities and Exchange Commission (“SEC”) to drastically increase fines it levies. If passed, the legislation would give the regulatory agency more ammunition to go after fraud on
U.S. employers offering pension benefits are reminded by the U.S. Supreme Court to focus on the fees associated with the investment choices in their company 401(k) plans…and to do that on a continuing basis. In Tibble v. Edison, employees sued their employer for fiduciary failure and won in a decision rendered on May 18, 2015.
Last week, President Obama published an Op-Ed announcing a rule change that would make up to five million more Americans eligible for overtime pay. Today the Department of Labor released the proposal. The Labor Department estimates that its revised national overtime rule would increase the paycheck of up to five million people by entitling them
To identify improper trading, certain investment adviser personnel must report their personal securities trading to their firms. Code of ethics requirements under Rule 204A-1 of the Investment Advisers Act aim to deter the use of inside info when making personal investment choices. They disallow “the misuse of material nonpublic information about a registered adviser’s securities recommendations,
This recent print ad for FINRA’s BrokerCheck website uses wit to cajole investors into background checking their financial advisers. Some of it is horse sense. Some of it is horsing around. But will its core message lead horses to water? And will investors actually research before leaping into decisions? Certainly, that’s the goal. FINRA’s BrokerCheck is a free online
On June 22nd, the SEC’s Office of Compliance Inspections and Examinations (OCIE) fulfilled its promise to make retirement advice a priority by launching a targeted review of broker-dealers’ and investment advisors’ retirement practices. Retail investors are more dependent than ever on their own investments for retirement. In reaction, this January, the SEC announced that protecting retirement savings