Archive

SEC Will Begin Scrutinize Risks Related to Retirement Products

By Staff Report

Oct. 29, 2009


The Securities and Exchange Commission will begin scrutinizing products related to retirement investing.


“Issues related to disclosure, product development and marketing for retirement products will be areas of focus in the coming year at the SEC,” Securities and Exchange Commission Chairman Mary Schapiro said at the Securities Industry and Financial Markets Association’s annual meeting in New York on Tuesday, October 27.


Responsibility for identifying potential risks related to investing in those products will fall primarily on the SEC’s newly formed division of risk, strategy and financial innovation. That unit, which was formed last month, combined the agency’s office of economic analysis and its risk assessment division.


“Barraging investors with retirement products that feature the latest financial gimmick or marketable fad will ultimately be a disservice to investors, their financial intermediaries and the economy overall,” Schapiro said.


At the conference, Schapiro also reiterated her position that a common fiduciary standard should be coupled with a “harmonized” regulatory regime for broker-dealers and investment advisors.


“A high fiduciary standard should apply regardless of whether the professional carries the label broker-dealer or investment advisor,” she said.


The standard of conduct, she added, “must not be a watered down.”



Filed by Sara Hansard of InvestmentNews, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.


Stay informed and connected. Get human resources news and HR features via Workforce Management’s Twitter feed or RSS feeds for mobile devices and news readers

What’s New at Workforce.com?

blog workforce

Come see what we’re building in the world of predictive employee scheduling, superior labor insights and next-gen employee apps. We’re on a mission to automate workforce management for hourly employees and bring productivity, optimization and engagement to the frontline.

Book a call
See the software

Related Articles

workforce blog

Staffing Management

Managing employee time-off requests: A guide for business owners

Summary Vacation, sick time, PTO banks, and unpaid leave are only a few forms of employee time off — Mo...

workforce blog

Technology

Labor analytics: A how-to guide for company leadership

Make sure to start small, clean your data, use data from a variety of sources and use desired business ...

data analytics, employee data, HR Tech, people analytics, talent management

workforce blog

Technology

Why tattleware isn’t the solution for underperforming teams

If your employees can take their smartphones out of their pockets to circumvent your efforts, how can y...

employee monitoring, HR technology, tattleware