ABA said HSAs should be excluded because of the differences between IRAs and HSAs, and applying the rule would “significantly and unnecessarily” increase the cost of offering HSAs.
Because existing disclosure and reporting regimes are comprehensive, sufficient and effective, no revisions or additions are necessary to the department’s regulatory requirements governing benchmark requirements and fee disclosures, ABA said.
The legislation would amend the Exchange Act to allow 403(b) retirement plans to invest in unregistered insurance contracts and collective investment trusts that currently may be invested in by comparable retirement plans, such as 401(k) plans.
In a recent letter to the Securities and Exchange Commission, ABA offered feedback on its recent registered investment adviser outsourcing proposal.
Banks of all sizes access the innovation ecosystem through in-house development, fintech partnerships, acquisitions and venture investment. Huntington Bank does all four.
The Securities and Exchange Commission today proposed new rules to prohibit registered investment advisers from outsourcing certain services and functions without conducting due diligence and monitoring of the service providers.
According to a recent survey, around 80% of institutional investors believe that cryptocurrency investments are likely to overtake many traditional investment types and predict mainstream adoption.
The federal banking agencies on Friday extended no-action relief under Regulation O for banks lending to investment fund-controlled companies under specific conditions.
The SEC last week voted to adopt a new rule under the Investment Company Act of 1940 addressing the valuation practices of registered investment companies and business development companies.
Nearly half—46%—of small business (those with 100 employees or fewer) said they have increased investment in their businesses amid the financial pressures of COVID-19, according to new research from Regions Next Step.