SEC building In the coming months, both the SEC and DOL are expected to begin issuing a number of new rules and proposals as part of their “harmonization” efforts. (Photo: Diego M. Radzinschi/ALM Media)

“Harmonization” is the buzzword that we keep hearing from regulators of the retail advice space.  The SEC used the word in the title of its recent concept release on private securities offering exemptions.  DOL Assistant Secretary Preston Rutledge used the same word in recent comments on the SEC’s Reg BI by stating that DOL’s goal is to “align, build up, and harmonize with [the SEC’s agenda].”  In the coming months, both the SEC and DOL are expected to begin issuing a number of new rules and proposals as these “harmonization” efforts come into daylight.  Key areas of focus may include rollover recommendations, electronic disclosure, and permissible investments.

First, rollover recommendations have in the past been and remain a key focal point for the SEC and DOL.  At times, it has seemed as though the two agencies have both sought to be the primary regulator.

Recommended For You

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.