DOL and SEC sharing information to address retirement and investments

The Department of Labor (DOL) and the Securities and Exchange Commission (SEC) have agreed to set up a process to share information to "protect the $5.8 trillion in retirement assets of American workers." Staff will meet regularly to address examination findings and trends, enforcement cases, and regulatory issues. The DOL has oversight of retirement plans and their participants, while the SEC oversees brokerages, investment advisers and mutual funds. The agreement expedites exchange of nonpublic enforcement information, with safeguards to protect confidentiality.  (Select News, 27 Aug 2008)

• Full text of DOL news release (DOL, 29 July 2008)
• Full text of Memo of Understanding (PDF)

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