New, supplemental SEC guidance regarding the proxy voting responsibilities of investment advisers took effect on September 3, when it was published in the Federal Register.
September 03, 2020
Tags: Proxy, Proxy Advisory Firms
DOL Proposes Dramatic Changes to Proxy Voting by ERISA Plan Fiduciaries
The DOL has proposed to amend its “Investment duties” regulation to address proxy voting and the use of proxy advisory firms under ERISA.
September 01, 2020
Tags: DOL, ERISA, ESG, Proxy, Retirement Plans
OCIE Issues Risk Alert Relating to COVID-19 Compliance Risk
The SEC examination staff has issued a Risk Alert highlighting select COVID-19 compliance risks and considerations.
August 12, 2020
Tags: OCIE, Coronavirus, COVID-19, Risk Alert
IAA Urges DOL to Withdraw ESG Proposal
The IAA recently submitted a comment letter asking the DOL to withdraw its proposed amendments to its ERISA investment duties regulation regarding ESG investments.
August 11, 2020
Tags: Active Management, Active Managers Council , DOL, ERISA, ESG
IAA Comments on DOL’s Proposed Fiduciary Exemption
The IAA has submitted a comment letter to the Department of Labor on that agency’s proposed fiduciary exemption.
August 10, 2020
Tags: Compliance, Digital Advice, DOL, Fiduciary
IAA to DOL: Provide More Time for Considered Response to Sweeping ESG Proposal
The IAA joined several other trade associations on July 20 to ask the Department of Labor to extend the July 30 deadline for public comments on its proposal to limit consideration of ESG factors in retirement plan investments.
July 21, 2020
Business Continuity Planning related to COVID-19 is now the top concern of investment management compliance professionals – edging out Cybersecurity, which had headed their rankings of hot topics for six consecutive years.
July 17, 2020
Tags: BCP, Compliance, Compliance Testing Survey, Coronavirus, COVID-19, Cybersecurity
OCIE Warns of Increasingly Sophisticated Ransomware Attacks
The SEC’s examination staff has shared observations to assist investment advisers and others in enhancing their cybersecurity preparedness and operational resiliency against a recent spate of ransomware attacks.
July 13, 2020
Tags: OCIE, Cybersecurity, Risk Alert
SEC’s Roisman: More ESG Disclosures from Asset Managers, But Not Public Companies
In a recent speech to the Society for Corporate Governance, SEC Commissioner Elad Roisman argued that asset managers should be required to provide greater disclosure about ESG investments.
July 10, 2020
Tags: DOL, Elad Roisman, ESG
Two years after its fiduciary rule was vacated, the DOL has officially reinstated the five-part test to determine whether a person is an investment advice fiduciary.
July 01, 2020