Los Angeles partner Fred Reish and Bruce Ashton, along with Washington, D.C., counsel Brad Campbell, spoke at the Insured Retirement Institute (IRI) 2012 Government, Legal & Regulatory Conference on Tuesday, June 26, in Washington, D.C.
The conference was a must-attend event for all legal, regulatory, compliance and government affairs professionals in the insured retirement industry. Bruce Dunne, of counsel to the Washington, D.C., office, was on the conference planning committee.
Reish joined a panel discussion of “SEC and DOL Fiduciary Initiatives.” The panel discussed the retirement industry’s successful petitioning of the Department of Labor (DOL) to re-propose its rule that would completely redefine what it means to be a fiduciary under the Employee Retirement Income Security Act and the Internal Revenue Code. Panelists provided a thoughtful analysis of the fiduciary issue and discuss the latest developments as well as their implications for the industry.
Ashton spoke as a panelist in a breakout session titled, “Product Developments: Legal and Regulatory Challenges.” As market participants rush to meet the demands of the Baby Boomer tsunami, panelists will discuss the unique legal and regulatory challenges of developing and bringing new product types to market.
Campbell provided a “DOL Fiduciary Update,” discussing the DOL’s Employee Benefits Security Administration proposed rule that would have amended the 35-year-old regulation defining who is an investment advice fiduciary. Brad discussed the implications of the overall proposal; areas where the rule could be improved; and the potential impact the rule will have on employers, service providers, and most importantly, Americans saving for a secure retirement.