Question
Who regulates 401k?
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29th Oct 2009 by Joseph Pousada
A 401k plan is a qualified retirement plan. In terms of the plan meeting Erisa standards and remaining a qualified plan the Internal Revenue Service provides regulatory oversight. However, what the plan is invested in would also warrant oversight from other regulatory agencies. For example, if a plan is invested in equities and some commodities it would have regulatory oversight from FINRA (Financial Industry Regulatory Authority) as well as the CFTC (Commodity Futures Trading Commission) and NFA (National Futures Association). The segmentation of regulatory oversight in the entire financial industry is currently under review and may experience consolidation.
Reference:
http://www.dol.gov/ebsa/faqs/faq_compliance_pension.html
A 401k plan is a qualified retirement plan. In terms of the plan meeting Erisa standards and remaining a qualified plan the Internal Revenue Service provides regulatory oversight. However, what the plan is invested in would also warrant oversight from other regulatory agencies. For example, if a plan is invested in equities and some commodities it would have regulatory oversight from FINRA (Financial Industry Regulatory Authority) as well as the CFTC (Commodity Futures Trading Commission) and NFA (National Futures Association). The segmentation of regulatory oversight in the entire financial industry is currently under review and may experience consolidation.
Reference:
http://www.dol.gov/ebsa/faqs/faq_compliance_pension.html
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20th Oct 2009 In Retirement
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