Regulation

Opponents of shifting to Roth plans speak up in Senate

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Sen. Sherrod Brown promised "one hell of a fight" if tax reform negotiators consider shifting retirement savings tax incentives to Roth accounts.
TSP blended military retirement rules proposed

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The Federal Retirement Thrift Investment Board, Washington, has proposed rules to implement military retirement reforms.
BlackRock, several other firms, to pick up external research costs under MiFID II

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BlackRock and several other managers join the roster of those saying they'll pay for external research costs under new European rules.
Bank of England keeps rates steady, expected to overshoot inflation target for years

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U.K. interest rates were kept steady at 0.25% following the latest meeting of the Bank of England's Monetary Policy Committee.
 U.K. FCA asks competition authority to investigate consultants

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The Financial Conduct Authority has asked the Competition and Markets Authority to investigate the consultant and fiduciary management industry.
Non-discrimination testing for closed DB plans extended 1 year

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Sponsors of DB plans closed to new entrants before Dec. 13, 2013, gained an extra year to comply with non-discrimination testing rules.
Plan sponsors ask for more analysis before mortality tables are updated

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Plan sponsor groups are urging the IRS and Treasury Department to do a more careful analysis before finalizing updated mortality tables.

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P&I's article "Tax reform efforts put retirement plans at risk" omitted a critical public policy issue that will significantly impact the tax reform debate.
SEC names director of investment management division

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Dalia Blass was named director of the SEC's investment management division.
OCC, FDIC propose aligning rules with SEC's 2-day trade settlement cycle

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Office of the Comptroller of the Currency and the FDIC proposed Friday reducing the trade settlement cycle to two days from three days.
New York Stock Exchange proposes delay on companies issuing news release after market close

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New York Stock Exchange is proposing requiring listed companies to hold off on releasing company news for five minutes after each day's market close.
OMB approves delay of fiduciary rule to mid-2019

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The DOL's proposal to extend the Jan. 1 applicability date for the remaining portions of the fiduciary rule until July 1, 2019, was approved.
U.K. details governance reforms for executive pay

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Investors objecting to executive pay packages at listed companies will be given more support and enhanced transparency.
Yellen issues broad defense of post-crisis financial rules

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Fed Chairwoman Janet Yellen said any rollback of financial reforms should be "modest" because they've made the banking system safer and more resilient.
Commentary: The great QE unwind is coming

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The Federal Reserve's plan to shrink its balance sheet could have substantially greater effects on markets than conventional interest rate increases.