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 no more delays for fiduciary rule means it s time to ensure compliance
no more delays for fiduciary rule means it's time to ensure compliance

In the wake of Labor Secretary Alexander Acosta's announcement this week that the Department of Labor won't further delay the Obama administration's controversial
fiduciary rule, retirement plan sponsors should ensure that any investment advice they help plan participants receive isn't conflicted due to advisor fees.Last month, the DOL
put a 60-day hold on implementing the rule, delaying the date by which retirement investors must act as fiduciaries from April 10 to June 9, 2017. The DOL also delayed parts of the regulation related to the
best interest contract (BIC) exemption, which allows so-called conflicted compensation to be paid under certain conditions, until Jan. 1, 2018. Commissions and
revenue-sharing payments are examples of conflicted compensation.In a May 23
Wal

no more delays for fiduciary rule means it's time to ensure compliance

In the wake of Labor Secretary Alexander Acosta's announcement this week that the Department of Labor won't further delay the Obama administration's controversial
fiduciary rule, retirement plan sponsors should ensure that any investment advice they help plan participants receive isn't conflicted due to advisor fees.Last month, the DOL
put a 60-day hold on implementing the rule, delaying the date by which retirement advisors must act as fiduciaries from April 10 to June 9, 2017. The DOL also delayed parts of the regulation related to the
best interest contract (BIC) exemption, which allows so-called conflicted compensation to be paid under certain conditions, until Jan. 1, 2018. Commissions and
revenue-sharing payments are examples of conflicted compensation.In a May 23
Wall

no more delays for fiduciary rule means it's time to ensure compliance

In the wake of Labor Secretary Alexander Acosta's announcement this week that the Department of Labor won't further delay the Obama administration's controversial
fiduciary rule, retirement plan sponsors should ensure that any investment advice they help plan participants receive isn't conflicted due to advisor fees.Last month, the DOL
put a 60-day hold on implementing the rule, delaying the date by which retirement advisors must act as fiduciaries from April 10 to June 9, 2017. The DOL also delayed parts of the regulation related to the
best interest contract (BIC) exemption, which allows so-called conflicted compensation to be paid under certain conditions, until Jan. 1, 2018. Commissions and
revenue-sharing payments are examples of conflicted compensation.In a May 23
Wall

no more delays for fiduciary rule means it's time to ensure compliance

In the wake of Labor Secretary Alexander Acosta's announcement this week that the Department of Labor won't further delay the Obama administration's controversial fiduciary rule, retirement plan sponsors should ensure that any investment advice they help plan participants receive isn't conflicted due to advisor fees.In April, the DOL put a 60-day hold on implementing the rule, delaying the date by which retirement investors must act as fiduciaries from April 10, 2017, to June 9. In addition, the DOL announced that parts of the regulation related to the best interest contract (BIC) exemption, which allows so-called conflicted compensation to be paid under certain conditions, would be delayed until Jan. 1, 2018. Commissions and revenue-sharing payments are examples of conflicted compensation

dol puts fiduciary rule provisions on hold for two months

Sponsors of 401(k) and similar defined contribution retirement plans have at least an extra two months to make sure that any investment advice they help plan participants to receive is in the participants' best interests. Plan sponsors that fail to do so could face a greater risk of being sued by those same participants.The U.S. Department of Labor (DOL)
announced a 60-day hold on a portion of the controversial
fiduciary rule issued by the Obama administration. Under the terms of the extension, advisers to retirement investors will be treated as fiduciaries beginning on June 9 rather than on April 10, 2017, as originally scheduled. In addition, the DOL announced delayed compliance with related disclosures and other conditions until Jan. 1, 2018.Between now and January 2018, the DOL w

dol proposes delay for the fiduciary rule

On March 1, the Department of Labor (DOL)
proposed a 60-day extension of the applicability dates of the fiduciary rule and related exemptions, from April 10 to June 9, 2017. The potential delay is merely pending and cannot be made official until the proposal's comment period ends.The DOL had been considering a 180-day extension, but instead opted for a shorter delay.The proposed extension is intended to give the department time to determine whether the rule—which requires retirement plan advisers to put their clients' best interests first when recommending investments for 401(k) and other defined contribution plans—may adversely affect the ability of Americans to gain access to retirement information and financial advice.The DOL will accept public comments on the proposed extension for

dol proposes delay for the fiduciary rule

On March 1, the Department of Labor (DOL)
proposed a 60-day extension of the applicability dates of the fiduciary rule and related exemptions, from April 10 to June 9, 2017. The potential delay is merely pending and cannot be made official until the proposal's comment period ends.The DOL had been considering a 180-day extension, but instead opted for a shorter delay.The proposed extension is intended to give the department time to determine whether the rule—which requires retirement plan advisers to put their clients' best interests first when recommending investments for 401(k) and other defined contribution plans—may adversely affect the ability of Americans to gain access to retirement information and financial advice.The DOL will accept public comments on the proposed extension for

dol puts fiduciary rule provisions on hold for two months

Sponsors of 401(k) and similar defined contribution retirement plans have at least an extra two months to make sure that any investment advice they arrange for plan participants is in the participants' best interests. Plan sponsors that fail to do so could face lawsuits by those same participants.The U.S. Department of Labor (DOL)
announced a 60-day hold on a portion of the Obama administration's controversial
fiduciary rule. Under the terms of the extension, advisers to retirement investors will be treated as fiduciaries starting on June 9 rather than on April 10, 2017, as originally scheduled. In addition, the DOL announced that parts of the regulation related to the best interest contract (BIC) exemption, which allows so-called conflicted compensation to be paid under certain cond

disability plans must follow claims procedures final rule

The Department of Labor's (DOL's)
final rule revising the claims procedure requirements for disability benefit plans under the Employee Retirement Income Security Act (ERISA) becomes effective for claims filed next year, but plan sponsors should take steps now to ensure compliance.The new rule, published on Dec. 19, 2016, includes protections to provide for a full and fair review of employees' disability claims."Disability claims have been the subject of extensive litigation," said Rory Akers, an attorney at Lockton Compliance Services in Kansas City, Mo."With these new requirements, the DOL is attempting to create a more comprehensive review of disability claims, clearly hoping to reduce the need for participants to resort to litigation and reduce difficulties participants experience w

disability plans must follow claims procedures final rule

The Department of Labor's (DOL's)
final rule revising the claims procedure requirements for disability benefit plans under the Employee Retirement Income Security Act (ERISA) becomes effective for claims filed next year, but plan sponsors should take steps now to ensure compliance.The new rule, published on Dec. 19, 2016, includes protections to provide for a full and fair review of employees' disability claims."Disability claims have been the subject of extensive litigation,"
noted Rory Akers, an attorney at Lockton Compliance Services in Kansas City, Mo. "With these new requirements, the DOL is attempting to create a more comprehensive review of disability claims, clearly hoping to reduce the need for participants to resort to litigation and reduce difficulties participants experie

new push seen for 401(k) multiple employer plans

Proponents of allowing unrelated employers to participate in a common 401(k) plan—with a shared administrator and a single Form 5500 filing—made their case at the U.S. House of Representatives subcommittee hearing on May 18. Unlike other retirement savings initiatives, past efforts to enable defined contribution multiple employer plans (MEPs) have enjoyed broad bipartisan support.Federal law now requires commonality among employers in a shared 401(k) or similar plan, usually meaning that the employers must be in the same line of business, such as with MEPs formed among auto dealerships. Open MEPs would not require employers to demonstrate a common interest before partnering in a pooled plan.Other topics were up for debate during the House Subcommittee on Health, Employment, Labor, and Pens

new push seen for 401(k) multiple employer plans

Proponents of allowing unrelated employers to participate in a common 401(k) plan—with a shared administrator and a single Form 5500 filing—made their case at the U.S. House of Representatives subcommittee hearing on May 18. Unlike other retirement savings initiatives, past efforts to enable defined contribution multiple employer plans (MEPs) have enjoyed broad bipartisan support.Federal law now requires commonality among employers in a shared 401(k) or similar plan, usually meaning that the employers must be in the same line of business, such as with MEPs formed among auto dealerships. Open MEPs would not require employers to demonstrate a common interest before partnering in a pooled plan.Other topics were up for debate during the House Subcommittee on Health, Employment, Labor, and Pens

new push seen for 401(k) multiple employer plans

Proponents of allowing unrelated employers to participate in a common 401(k) plan—with a shared administrator and a single Form 5500 filing—made their case at the U.S. House of Representatives subcommittee hearing on May 18. Unlike other retirement savings initiatives, past efforts to enable defined contribution multiple employer plans (MEPs) have enjoyed broad bipartisan support.Federal law now requires commonality among employers in a shared 401(k) or similar plan, usually meaning that the employers must be in the same line of business, such as with MEPs formed among auto dealerships. Open MEPs would not require employers to demonstrate a common interest before partnering in a pooled plan.Other topics were up for debate during the House Subcommittee on Health, Employment, Labor, and Pens

life is too short. not every book is meant to be finished. learn about this rule

Many people think that once we buy a book, we should finish reading it. When we can’t, we feel kind of guilty. And that unfinished task would stay in our mind for a long time. This is called sunk cost fallacy, which means your decisions are based on previously invested resources. The more you invest in something, the harder it is to quit it.But think about it, if you pre-pay 1,000 dollar to dine at a restaurant, while it serves you a dish with a number of insects in it, would you stay or leave?Likewise when you get a crappy book, or a book that just doesn’t suit you, what’s the point of holding on to it?So how to decide if a book is worth reading or not? “The Rule of Fifty” might help you.The concept of this rule has been taken from a book by Nancy Pearl called Booklust. As per the rule, t

stop the butterfly effect in your datacenter with better infrastructure visibili

By Bharath Vasudevan, HPE Product Manager, Software-defined and Cloud GroupThe butterfly effect is the idea that even small changes can have large consequences. No one understands the butterfly effect better than a datacenter administrator.IT departments continue to face the challenge of how to set up and maintain numerous applications and services in a hybrid IT environment. One of the main considerations is how any changes in their current environment might disrupt existing applications. Add to that their worry about separate management domains, fault domains, resource monitoring, future capacity, current utilization, and a host of other concerns. Even a small change can cause big problems.In today’s dynamic datacenter environment, being able to see how the infrastructure is performing i

ethics and compliance officers face challenges to their legitimacy, study finds

Legislative changes that were introduced in response to corporate scandals in the 1980s and 1990s, and the many others since, have especially motivated larger companies to create ethics and compliance officer positions. These officers are usually tasked with insuring employee compliance with ethical values and legal principles.

what’s next for employers under the flsa overtime rule?

Under the Trump administration, a revised-yet-again overtime-pay rule could raise the salary threshold for exempt status, but not as much as the Obama administration wanted. It could also reduce some of the complexity around compliance that Obama's Department of Labor (DOL) included in its now-blocked rule, according to Tammy McCutchen, former administrator of the DOL's wage and hour division under President George W. Bush and a principal with Littler in Washington, D.C.U.S. employers have been in legal limbo when it comes to compensating employees under the Obama administration's revised Fair Labor Standards Act (FLSA) overtime rule, said McCutchen.  (Employers subject to the FLSA are required to pay nonexempt employees working more than 40 hours per week at a rate of time-and-a-half). Af

what’s next for employers under the flsa overtime rule?

Under the Trump administration, a revised-yet-again overtime-pay rule could raise the salary threshold for exempt status, but not as much as the Obama administration wanted. It could also reduce some of the complexity around compliance that Obama's Department of Labor (DOL) included in its now-blocked rule, according to Tammy McCutchen, former administrator of the DOL's wage and hour division under President George W. Bush and a principal with Littler in Washington, D.C.U.S. employers have been in legal limbo when it comes to compensating employees under the Obama administration's revised Fair Labor Standards Act (FLSA) overtime rule, said McCutchen.  (Employers subject to the FLSA are required to pay nonexempt employees working more than 40 hours per week at a rate of time-and-a-half). Af

late rule change for aflw grand final

The AFL has imposed a significant rule change for the inaugural women's grand final, mandating time-on after points and for out of bounds for the first time all season.
The league's motivation for the late adjustment, only approved formally this week, is minimising strategic time-wasting in the shorter AFLW quarters – and lengthening the match by up to 12 minutes longer than regular-season games.
There will be time on for out of bounds and behinds for the first time all season. Photo: Getty ImagesAFL football operations boss Simon Lethlean told Fairfax Media it was a question of integrity that far outweighed any negatives from 11th-hour rule amendments.Set to play the premiership decider in the hottest part of a 27-degree Gold Coast afternoon on Saturday, Brisbane and Adelaide are now

late rule change for aflw grand final

The AFL has imposed a significant rule change for the inaugural women's grand final, mandating time-on after points and for out of bounds for the first time all season.
The league's motivation for the late adjustment, only approved formally this week, is minimising strategic time-wasting in the shorter AFLW quarters – and lengthening the match by up to 12 minutes longer than regular-season games.
There will be time on for out of bounds and behinds for the first time all season. Photo: Getty ImagesAFL football operations boss Simon Lethlean told Fairfax Media it was a question of integrity that far outweighed any negatives from 11th-hour rule amendments.Set to play the premiership decider in the hottest part of a 27-degree Gold Coast afternoon on Saturday, Brisbane and Adelaide are now

stop the butterfly effect in your datacenter with better infrastructure visibili

By Bharath Vasudevan, HPE Product Manager, Software-defined and Cloud Group
The butterfly effect is the idea that even small changes can have large consequences. No one understands the butterfly effect better than a datacenter administrator.
IT departments continue to face the challenge of how to set up and maintain numerous applications and services in a hybrid IT environment. One of the main considerations is how any changes in their current environment might disrupt existing applications. Add to that their worry about separate management domains, fault domains, resource monitoring, future capacity, current utilization, and a host of other concerns. Even a small change can cause big problems.
In today’s dynamic datacenter environment, being able to see how the infrastructure is performi

osha delays electronic record-keeping rule

The Occupational Safety and Health Administration (OSHA) plans to postpone a record-keeping rule that would have required certain employers to electronically submit injury and illness data to the agency starting on July 1. The agency has not provided any additional information about if or when electronic submission will be required.OSHA announced on its website on May 17 that it "is not accepting electronic submissions at this time and intends to propose extending the July 1, 2017 date."The news of the delay didn't come as a surprise, given that there was no indication that OSHA had even created a portal for employers to submit electronic data, said Patrick Miller, an attorney with Sherman & Howard in Denver. The injury and illness reports that employers would have to submit electronically

what’s next for employers under the flsa overtime rule?

Under the Trump administration, a revised overtime-pay rule could raise the salary threshold for exempt status, but not as much as the Obama administration wanted. It could also reduce some of the complexity around compliance that Obama's Department of Labor (DOL) included in its now-blocked rule, according to Tammy McCutchen, former administrator of the DOL's wage and hour division under President George W. Bush and a principal with Littler Mendelson PC in Washington, D.C.U.S. employers have been in legal limbo when it comes to compensating employees under the Fair Labor Standards Act (FLSA) overtime rule, which requires pay at a rate of time-and-a-half for nonexempt employees working more than 40 hours per week, said McCutchen, who served on Trump's transition team. Many employers either

what’s next for employers under the flsa overtime rule?

Under the Trump administration, a revised overtime-pay rule could raise the salary threshold for exempt status, but not as much as the Obama administration wanted. It could also reduce some of the complexity around compliance that Obama's Department of Labor (DOL) included in its now-blocked rule, according to Tammy McCutchen, former administrator of the DOL's wage and hour division under President George W. Bush and a principal with Littler Mendelson PC in Washington, D.C.U.S. employers have been in legal limbo when it comes to compensating employees under the Fair Labor Standards Act (FLSA) overtime rule, which requires pay at a rate of time-and-a-half for nonexempt employees working more than 40 hours per week, said McCutchen, who served on Trump's transition team. Many employers either

trespassers, vandalism and bomb scares cause most train delays

Over half of train delays in the Netherlands are due to trespassing on the tracks, bomb scares and bad behaviour, rail company ProRail said on its Facebook page on Thursday.ProRail, which manages the Dutch railway infrastructure, said 53% of delays are due to issues beyond its control, compared with 47% a year ago.‘It is high time that people who walk on the tracks or cross over after the barriers have come down realise the risks they are running, Willem Loonen, of ProRail’s central alarm service said. ‘Trains are quieter, faster and more frequent. Before you know it, you are dead.’Earlier this month, ProRail  launched an urgent appeal to people not to take selfies of themselves posing on or next to railway tracks. An average of nine people are caught walking on or too close to the railway

comms blackout sparks brisbane train delays

Brisbane train delays have cleared on Monday evening after an earlier communications blackout.Commuters were experiencing delays of up to 13 minutes at 6pm, but all services were running on-time by about 6.45pm.
Brisbane train commuters can expect delays of up to 10 minutes on Monday afternoon after a communication blackout. EARLIERAll trains between Central and Fortitude Valley stations are experiencing delays after a Monday afternoon communications blackout.A TransLink spokeswoman said all trains in the affected area were suspended at 3.54pm after connection with the rail management centre was lost.Communication between the trains and control centre was restored at 4.05pm, with the cause believed to be a small power outage at Fortitude Valley station.Customers can expect delays of up t

irish sun - crash between luas and truck leaves two people injured

Services resumed after delays due to the crash earlier on Friday morning The crash took place between Saggart and BelgardLuas operator, Transdev warned passengers to expect delays for a short period of timeDUBLIN, Ireland - Two people were hospitalized on Friday morning after the Luas Red Line in Dublin was involved in a crash between one of the Luas and a truck. The crash, that occurred between Saggart and Belgard led to several delays, but it lashed for a short period of time. Luas operator, Transdev also warned passengers in a statement that delays could be expected for a short period of time and later said that the service had been restored shortly before 9.30 am.  Soon after the crash, ambulances and several units of Dublin Fire Brigade rushed to the scene.

oppn approaches prez, alleges voices of dissent being muzzled

Major opposition parties today met President Pranab Mukherjee and put forth their concern over recent incidents of violence, including attacks by cow vigilantes, and efforts to "muzzle voices of dissent".A delegation of leaders of various political parties, led by former Prime Minister Manmohan Singh and Congress president Sonia Gandhi, called on the President at the Rashtrapati Bhavan and sought his urgent intervention "to ensure the rule of law" in the country.They presented a memorandum to him listing their various concerns and urged the President to ensure that constitutional democracy and fundamental rights of citizens are protected.After the delegation met the President, Leader of Opposition in Rajya Sabha Ghulam Nabi Azad said "an environment of fear and insecurity is prevailing in

managing pay changes during overtime rule uncertainty

U.S. employers are in legal limbo when it comes to compensating employees under the Fair Labor Standards Act overtime rule. Here are some solutions for employers who had already made changes to comply with the new rule that is blocked by a court order.Read the full story: What’s Next for Employers Under the FLSA Overtime Rule?

sweden's trains getting later as delays grow

Problems on Sweden's train tracks are causing delays. Photo: Fredrik Sandberg/TT
The number of delayed trains in Sweden continues to grow and grow, according to new figures from the Swedish Transport Administration (Trafikverket) reported in newspaper Svenska Dagbladet (SvD).
Despite upgrades and repairs to tracks, the number of hours of delays in Swedish train traffic increased from 76,100 hours to 77,200 hours between 2013 and 2016. And at the same time, the number of travellers seeking and being granted compensation for those delays has decreased.
"You need to remember that we have more trains running now than four years ago, so there will be more delays then," Trafikverket deputy planning chief Tommy Jonsson said, explaining that everything from trees blown onto tracks, to birds

sweden's trains getting later as delays grow

Problems on Sweden's train tracks are causing delays. Photo: Fredrik Sandberg/TT
The number of delayed trains in Sweden continues to grow and grow, according to new figures from the Swedish Transport Administration (Trafikverket) reported in newspaper Svenska Dagbladet (SvD).
Despite upgrades and repairs to tracks, the number of hours of delays in Swedish train traffic increased from 76,100 hours to 77,200 hours between 2013 and 2016. And at the same time, the number of travellers seeking and being granted compensation for those delays has decreased.
"You need to remember that we have more trains running now than four years ago, so there will be more delays then," Trafikverket deputy planning chief Tommy Jonsson said, explaining that everything from trees blown onto tracks, to birds

a needless compliance burden | business standard column

Brands & millennials: Relationship holds the keyBusiness StandardThe anti-profiteering provisions in GST would place a needless compliance burden on manufacturersShyamal Majumdar  March 30, 2017 Last Updated at 22:42 ISTFollow this columnisthttp://mybs.in/2UUJR5r

managing pay changes during overtime rule uncertainty

U.S. employers are in legal limbo when it comes to compensating employees under the Fair Labor Standards Act overtime rule. Here are some solutions for employers who had already made changes to comply with the new rule that is blocked by a court order, according to Tammy McCutchen, former administrator of the DOL's wage and hour division under President George W. Bush and a principal with Littler in Washington, D.C.Read the full story: What’s Next for Employers Under the FLSA Overtime Rule?

bribery, corruption risks to persist in 2017: study

Compliance professionals the world over believe that bribery and corruption risks are likely to persist this year, showed a joint study from Kroll and the Ethisphere Institute. More than one-third (35 per cent) of all risk and compliance professionals surveyed expect their organisation's bribery and corruption risks to increase in 2017, and more than half (57 per cent) expect them to persist at the same levels as last year.The respondents believe that the top risks to their anti-bribery and corruption programmes will come from third party violations (40 per cent), a complex global regulatory environment (14 per cent), and employees making improper payments (12 per cent). "It is clear the anti-bribery and corruption programme can be viewed in the context of regulation as well as more broadl

home ministry to ensure mallya's presence on july 10: sc

The Supreme Court has directed the Union Home Ministry to "secure and ensure" the presence of embattled businessman Vijay Mallya, who is currently in the United Kingdom, before it on July 10 for the hearing on the quantam of punishment for contempt of court.The top court has held Mallya guilty of contempt of court for disobeying its orders by not disclosing full particulars of his assets and also violating the orders of Karnataka High Court by transferring USD 40 million received from British firm Diageo, to his three children.India had recently asked Britain to ensure early extradition of Mallya, who is an accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines."We direct the Ministry of Home Affairs, Government of India, New Delhi to secure an

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