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

About Workforce.com

blog workforce

We build robust scheduling & attendance software for businesses with 500+ frontline workers. With custom BI reporting and demand-driven scheduling, we help our customers reduce labor spend and increase profitability across their business. It's as simple as that.

Book a call
See the software

Related Articles

workforce blog

Employee Engagement

12 practical employee appreciation ideas for better engagement and retention

Summary Showing appreciation to your employees improves engagement and retention. There are 12 practica...

employee appreciation, engagement, HR, raccoons

workforce blog

Compliance

California fast food workers bill: why it’s more than meets the eye and how to prepare

Summary: California signs bill establishing a “fast food council” that has the power to raise the indus...

workforce blog

Employee Engagement

7 statistics on employee turnover in 2022 every HR manager should be aware of

Summary July 2022 saw 5.9 million total separations – More Replacing a full-time employee can cost up t...

employee retention, employee turnover