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For all of the promise initially seen in clean shares, some of industry’s most influential players have since raised concerns to Labor and the SEC. (Photo: Fotolia)Before the Labor Department formally delayed the full implementation of the fiduciary rule in November of 2017, regulators were sending clear signals that clean shares of mutual funds would play a prominent role in revisions to the regulation.
An FAQ issued in May of 2017 by the agency noted the emerging prospect of broker-dealers and fund managers using clean shares as way to comply with the Obama-era regulation, which was written in an attempt to protect investors by reducing conflicts of interest in mutual fund recommendations.
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Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
It was a record year for workplace class action settlements in general, with the top 10 ERISA settlements totaling $837.3 million.
The plaintiff also claimed he was falsely imprisoned when managers restricted his movement into the supermarket.
Compared to EBSA's successful missing participant program, PBGC's program is lacking some basics, Inspector General says.
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