Henry Paulson recently postulated that American competitiveness in financial services is at risk due to overly burdensome regulatory constraints and compliance mandates. This follows close on the heels of similar comments from Michael Bloomberg and Charles Schumer in a Wall Street Journal Op-Ed piece calling for changes to Sarbanes Oxley. The goal? To help ensure that US regulatory schemas and capital markets maintain their competitive edge over financial centers such as London.
Sometime in the not-too-distant future, an advisor will
explain his wonderful recommendation about how to invest the participant’s
401(k) account and the participant will say “That’s nice but I want to do
something good with my money. Tell me
about my socially responsible investment choices.” And the advisor will say, “Huh?” Plan sponsors and their advisors need to be cognizant of
socially responsible investing (SRI) because research shows there is increasing
interest.
There’s been plenty of talk, but now it seems that a loud shot has been fired across the bow of plan sponsorship—and the personal assets of the employees running retirement plans. If you’re a plan fiduciary (and especially if you’re unsure about your status), you may want to have an independent expert review your qualified plan. After all, besides the need for employees to successfully invest, your personal—not only corporate—liability may be at stake.
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Short Take
McHenry Representated at MIA Conference
Rhonda Evans will present at the 4th annual Made in America conference on out-of-the-box investing. The conference, which takes place January 28th-30th in Las Vegas, is designed to help spark new initiatives for multiemployer plans.
Henry Paulson recently postulated that American competitiveness in financial services is at risk due to overly burdensome regulatory constraints and compliance mandates. This follows close on the heels of similar comments from Michael Bloomberg and Charles Schumer in a Wall Street Journal Op-Ed piece calling for changes to Sarbanes Oxley. The goal? To help ensure that US regulatory schemas and capital markets maintain their competitive edge over financial centers such as London.
Sometime in the not-too-distant future, an advisor will
explain his wonderful recommendation about how to invest the participant’s
401(k) account and the participant will say “That’s nice but I want to do
something good with my money. Tell me
about my socially responsible investment choices.” And the advisor will say, “Huh?” Plan sponsors and their advisors need to be cognizant of
socially responsible investing (SRI) because research shows there is increasing
interest.
There’s been plenty of talk, but now it seems that a loud shot has been fired across the bow of plan sponsorship—and the personal assets of the employees running retirement plans. If you’re a plan fiduciary (and especially if you’re unsure about your status), you may want to have an independent expert review your qualified plan. After all, besides the need for employees to successfully invest, your personal—not only corporate—liability may be at stake.