The U.S. Department of Labor and the Securities and Exchange Commission have renewed their agreement to share information on retirement and investment matters.
The Employee Benefits Security Administration and SEC staffs have agreed to meet regularly to discuss "topics of mutual interest." The agencies' memorandum of understanding also is aimed at encouraging the sharing of non-public information between them. Employees of both agencies will be cross-trained so they understand the missions of both organizations.
The renewed memorandum reinforces the agencies' commitment to work together on a variety of regulatory, enforcement, public outreach, research and information technology matters.
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"The department views our work with the SEC on shared interests in recent years as a tremendous success. By renewing this memorandum of understanding, we will continue to better serve all of America's workers who depend on private-sector retirement plans," said Assistant Secretary of Labor for Employee Benefits Security Phyllis Borzi. "Our experience with the SEC helps to boost the department's enforcement program and ensure that our regulatory and other programs work in tandem with the SEC's initiatives to provide meaningful protections for workers' retirement savings."
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