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☆ Labor Department issues rule to crack down on bad retirement savings advice
▼ + stars: | 2024-04-23 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Al Drago/Bloomberg via Getty ImagesThe Biden administration issued a final rule on Tuesday that cracks down on the investment advice that advisors, brokers, insurance agents and others give to retirement savers. The final rule takes effect on Sept. 23. Current retirement rules don't provide adequate protections to savers, Labor Department officials said during a press call Tuesday. Such a dynamic can "chip away" at Americans' savings, Gomez said. The amount of 401(k)-to-IRA rollovers is 'astronomical'The final rule doesn't differ significantly from the Biden administration's initial proposal, Labor officials said.

Persons: Al Drago, Biden, Obama, Lisa Gomez, That's, Gomez, Andrew Oringer, Oringer Organizations: U.S . Department of Labor, Bloomberg, Getty, Labor, Security, The Labor Department, Economic Advisers, Biden, Finance, Economic, Wagner, Department of Labor Locations: Washington, IRAs

☆ Investors roll more than $600 billion a year to IRAs. Anticipated Labor Department rules could raise their protections
▼ + stars: | 2023-10-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

This is what the Labor Department will likely tweak, attorneys said. Now, the Labor Department is trying again, though its rule likely won't be as far-reaching, experts said. The OMB has 90 days to review the rule, Borzi said, after which the Labor Department would issue its proposal publicly. watch nowBased on recent legal clues, attorneys expect the Labor Department will seek to raise the bar on all rollover advice provided by the financial ecosystem. That generally means investment advice must be given solely in investors' best interests.

Persons: IRAs IRAs, Phyllis Borzi, Obama, Reish, —, Borzi, Andrew Oringer, Sen, Bill Cassidy, Virginia Foxx, There's, They're, Fred Reish, Drinker Biddle Organizations: U.S . Department of Labor, Washington , D.C, Washington Post, The Washington Post, Getty, Investment Company Institute, ICI, Labor, Pew Research Center, Labor Department, Management, Budget, OMB, Wagner Law, Critics, Rep Locations: Washington ,, IRAs

☆ Biden ESG rule survives challenge in court. 'Tonal shift’ may be biggest victory, lawyer says
▼ + stars: | 2023-09-27 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

The Biden administration rule — which took effect Jan. 30 — was one facet of a White House effort to address climate change. Biden's ESG rule replaced a regulation issued by the Trump administration. That's because ERISA, a federal retirement law, disallows employers from picking investments for ideological reasons. The Biden administration was concerned that the spin around the Trump rule might have chilled plans' willingness to consider ESG factors. "The Biden administration was concerned that the spin around the Trump rule might have chilled plans' willingness to consider ESG factors in evaluating plan investments," Iwry said.

Persons: Joe Biden, Marty Walsh, Anna Moneymaker, —, Biden, Biden's, Trump, PSCA, Andrew Oringer, Oringer, DOL, gunning, Mark Iwry, Obama, Matthew Kacsmaryk, Mark Iwry nonresident, Iwry, Mischa Keijser Organizations: Labor, White, Getty, of America, U.S . Department of Labor, Northern District of Texas, Wagner Law, Department of Labor, Biden, Trump, Brookings Institution, U.S . Department of, Treasury, Brookings, Labor Department Locations: Rose, Northern District, Texas

☆ The 7 Most Exciting Ways to Eat Seafood Now
▼ + stars: | 2022-12-17 | by ( Kathleen Squires | ) www.wsj.com time to read: +1 min

THANKS TO increasing availability and accessibility of great seafood across the U.S., seafood towers are having a moment. “I love that they can be as creative as you want or as traditional as you want. LUXE: Caviar Russe, New YorkChef Edgar Panchernikov’s over-the-top treatment features caviar and all its accoutrements, along with oysters, shrimp, lobster, king crab, hamachi, fluke, sea trout and bluefin tuna. Sea urchin is an optional add-on. Among the dazzling selection of accompaniments: crème fraiche, blini, potato coins, toast squares, chives, cocktail sauce, mignonette, aioli, soy sauce, ponzu, ginger and clarified butter.

☆ The pitch deck service-tech startup Handly used to raise a $1.5 million pre-seed round from investors like Shutterstock's Jon Oringer
▼ + stars: | 2022-10-14 | by ( Georg Räth | Nathan Rennolds | Business Insider Deutschland | ) www.businessinsider.com time to read: +1 min

Handly is a service-tech startup that Bastian Meyer and Klaas Krüger founded. It acts as a digital assistant for home-services companies and helps them run more efficiently. Insider has a copy of the pitch deck Handly used to raise a 1.5 million euro pre-seed round. This is an edited, translated version of an article that originally appeared on October 13, 2022Handly is a Berlin-based service-tech startup that Bastian Meyer and Klaas Krüger founded. Insider has an exclusive copy of the pitch deck Handly used to raise the funds.

☆ The 26 most important VCs in Miami, according to other VCs
▼ + stars: | 2022-09-23 | by ( April Joyner | Emilia David | ) www.businessinsider.com time to read: +1 min

Miami's tech-startup scene has heated up in the past two years as VCs have flocked to the city. Early-stage funding to the area has topped $2 billion this year, according to Crunchbase. Insider asked VCs to identify the top investors in the Miami area. Despite the slowdown in venture-capital investments this year, early-stage funding flowing to the Miami area is set to eclipse last year's total, according to Crunchbase, with more than $2 billion already invested. Insider asked venture capitalists and other prominent tech figures which investors Miami-area founders should get to know.

☆ Here's an exclusive look at the pitch deck Nodal used to raise $4.7 million from investors like Amplo and a slew of women's health founders to transform the surrogacy world
▼ + stars: | 2022-09-21 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +3 min

The startup's platform matches surrogate mothers with prospective parents they want to work with. Unlike traditional agencies, Nodal allows surrogate mothers to pick families they want to work with. Nodal is a surrogacy-matching platform that uses tech to connect surrogate mothers with prospective parents. Prospective parents pay $500 per month to join the platform for the first six months. Nodal is launching with 30 surrogates and six times as many prospective parents and hopes to grow its team in time.

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