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Fiduciary rule delay could mean more ‘agony’

Regulatory/Compliance

The DOL is seeking an 18-month delay in the implementation of the fiduciary rule’s more burdensome transaction exemptions, a move that one ERISA attorney called “continued agony,” according to an article at ThinkAdvisor. “We will be in limbo for another two year, at least,” the attorney told the publication. See the full story below. Also, the SEC’s Office of Compliance Inspections and Examinations has reported “an overall improvement in firms’ awareness” of cyber risks, but found some deficiencies in the areas of written cyber policies and follow-up in awareness training, according to a Financial Planning article. Read the details below.

DOL Fiduciary Delay Would Be ‘Double-Edged Sword,’ Lawyer Says

By Melanie Waddell

Source: ThinkAdvisor

Opponents and supporters of the Department of Labor’s fiduciary rule were quick to react to Labor filing on Thursday with the Office of Management and Budget to delay by 18 months compliance with the rule’s more onerous prohibited transaction exemptions, with one ERISA attorney characterizing the move as “continued agony.”

http://www.thinkadvisor.com/2017/08/10/dol-fiduciary-delay-would-be-double-edged-sword-la

 

Why your firm may not be as safe as it could be

By Kenneth Corbin

Source: Financial Planning

Advisors have made strides against cyber threats — but it may not be enough. Following its latest wave of exams, the SEC’s Office of Compliance Inspections and Examinations found the results are a decidedly mixed bag when it comes to how firms are working to protect sensitive systems and client information from hackers.

https://www.financial-planning.com/news/why-your-firm-may-not-be-as-safe-as-it-could-be

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