Lawyers discuss FINRA strategy on high-risk advisor exams | SEC names Duhnke to lead PCAOB | Bill would permit electronic 401(k) statements
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December 13, 2017
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Lawyers discuss FINRA strategy on high-risk advisor exams
Lawyers from firm McGuireWoods offer their analysis of the Financial Industry Regulatory Authority's approach to tracking and examining advisors deemed high risk. FINRA now has a dedicated examination unit that is increasingly using data analytics to spot patterns and predict misconduct, and it also plans to be vigilant of employers' policies for hiring and monitoring high-risk individuals.
Lexology (12/11) 
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Policy Watch
SEC names Duhnke to lead PCAOB
The Securities and Exchange Commission has announced the appointment of lawyer William Duhnke as head of the Public Company Accounting Oversight Board, replacing Jim Doty, who has held the post since 2011. In a long-expected overhaul of the unit, the SEC has also made four new board member appointments.
Reuters (12/12) 
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Bill would permit electronic 401(k) statements
Legislation with bipartisan support seeks to let sponsors of 401(k) plans deliver account statements and other information electronically. Reps. Jared Polis, D-Colo., and Phil Roe, R-Tenn., who introduced the Receiving Electronic Statements To Improve Retiree Earnings Act, said the measure would protect participants who prefer paper documents.
ThinkAdvisor (free registration) (12/12) 
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US job postings decline, but hiring picks up
US companies posted slightly fewer jobs in October than in September but added more workers, the Labor Department said. As October ended, just under 6 million jobs were available, down from 6.18 million in September, but total hiring was up 4.4% in October compared with September.
Fox Business/The Associated Press (12/11) 
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Building Your Business
What to tell clients who ask if the "Trump effect" is over
Mike Boyle writes it is likely clients will want to know whether the "Trump effect" on the markets is waning and offers advice on how to handle the question. He notes that most forecasters expect the bull market to continue into 2018 and that advisors should be more aware of changes brought by new Federal Reserve policy and developments in emerging markets.
InvestmentNews (tiered subscription model) (12/12) 
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Retirement Focus
BlackRock: Pre-retirees face tougher landscape than current retirees
Americans who began retiring in the early 1990s have been able to retain roughly 80% of their savings, a BlackRock Retirement Institute analysis finds, but those nearing retirement today cannot expect the same. Vanishing pensions, lower projected returns and uncertainty regarding Social Security were cited as contributing factors.
BenefitsPro (12/8) 
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Why a pre-retirement stress test makes sense
Research has shown retirees frequently spend money faster in their first two years of retirement than they did while working, which can have an adverse effect on their longer-term financial security. Columnist Ryan Derousseau looks at how advisors and their clients can prepare by testing how spending may affect their retirement budget.
Fortune (12/12) 
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FSI Member News & Events
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