“Reduced regulation” doesn't mean “no regulation.” (Photo: Mike Scarcella/ALM)
Wait. Wasn't Trump supposed to be the president that reduced regulation?
With all the hubbub about the death of the Fiduciary Rule, many have overlooked the reality of the DOL enforcement numbers. The Trump administration has shepherded the most dollars in recoveries from enforcement actions in at least the last eight years. Additionally, in Trump's first year, total recoveries exceeded $1 billion for the first time since the current EBSA reporting format began in 2014.Last year did see the second lowest percentage of civil investigations closed with results (65.3 percent) and the lowest number of civil investigations referred for litigation since 2010; however, the number of individuals indicted stands as the third highest (113) in that same time period.
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Christopher Carosa
Chris Carosa has been writing a weekly article and monthly column for BenefitsPRO online and BenefitsPRO Magazine since 2011 and is a nationally recognized award-winning writer, researcher and speaker. He’s written seven books, including From Cradle to Retire: The Child IRA; Hey! What’s My Number? – How to Increase the Odds You Will Retire in Comfort; A Pizza The Action: Everything I Ever Learned About Business I Learned By Working in a Pizza Stand at the Erie County Fair; and the widely acclaimed 401(k) Fiduciary Solutions. Carosa is also Chief Contributing Editor of the authoritative trade journal FiduciaryNews.com and publisher of the Mendon-Honeoye Falls-Lima Sentinel, a weekly community newspaper he founded in 1989. Currently serving as President of the National Society of Newspaper Columnists and with more than 1,000 articles published in various publications, he appears regularly in the national media. A “parallel” entrepreneur, he actively runs a handful of businesses, including a small boutique investment adviser, providing hands-on experience for his writing. A trained astrophysicist, he also holds an MBA and has been designated a Certified Trust and Financial Advisor. Share your thoughts and story ideas with him through Facebook (https://www.facebook.com/christophercarosa/)and Twitter (https://twitter.com/ChrisCarosa).
