Advocacy Group Calls New Labor Department Rule ‘Anti-Consumer’
Pension Rights Center says the policy contradicts recent Supreme Court ruling and DOL guidance.
Regulation
GOP Senators Introduce Bill Allowing DC Catch-Up Contributions
AMORE Act is intended for those who couldn’t afford to make contributions because of COVID-19.
Research Calls Lack of Diversity Atop Financial Regulators a ‘Bipartisan Failure’
There has never been an African American chair of the SEC, CFTC, or FDIC.
Cryptocurrency Firm Co-Founder Pleads Guilty to Coin Offering Fraud
Sam Sharma could face up to 15 years in prison for defrauding victims of $25 million.
SEC’s Proposal to Raise 13F Threshold Stifles Transparency, Critics Say
Dissenting commissioner says regulator doesn’t have the legal authority to raise reporting criteria.
Kentucky High Court Dismisses Suit over KRS’ ‘Risky’ Investments
Court ruled plaintiffs had no standing because they weren’t personally injured by allegations.
US Bill Would Create Lost and Found for Retirement Savings
An estimated 30% of all US employees have left a retirement account at a previous employer, lawmakers say.
Mississippi Pension Sues Mylan over Alleged Scheme to Deceive FDA
President Rajiv Malik is accused of ordering workers to manipulate quality control data.
Jack Abramoff Charged in Cryptocurrency Fraud
Lobbyist could face 10 years in prison for alleged role in touting digital asset that was purportedly superior to Bitcoin.
Is Setting ESG Standards Too Puzzling? Get Wide Feedback, SASB Says
If the rules seem subjective or unworkable, a good alternative for companies is to ask outside groups for their input, the sustainability advisory group suggests.
SEC Halts Brothers’ Alleged Cryptocurrency Offering Fraud
Sean and Shane Hvizdzak are accused of pocketing $26 million of investors’ funds.
DOL Proposal Will Chill ESG Corporate Pension Investing, Advocates Say
The proposed federal rule takes a dim view of sustainable investing that’s not focused solely on returns.
Permission to Tap 401(k)s Worries SEC Chief
New penalty-free retirement plan withdrawals, meant as recession relief, may result in too-risky investing, Jay Clayton says.
15 Plead Guilty to International Cyber Fraud Conspiracy
Romanian conspirators sold non-existent cars and used bitcoin to launder proceeds.
SEC Swats Away COVID-19 Scammers
Pandemic keeps regulator busy protecting investors from flood of fraudulent claims.