Compliance: What’s next for DOL’s fiduciary rule?

first_imgUS Department of Labor With the Department of Labor (DOL) announcing a “phased implementation” of its fiduciary rule through Jan. 1, what is required between the June 9 effective date and then? CUNA’s compliance staff examined what’s next for the rule in a recent CompBlog post.Starting June 9, the rule’s amended definition of “fiduciary investment advice” will apply, and the Best Interest Contract (BIC) exemption and Principal Transactions Exemption will become available to fiduciary advisers.However, for a transition period extending until Jan. 1, 2018, fewer conditions will apply to financial institutions and advisers that want to rely upon the exemptions.During the transition period, financial institutions and advisers must comply with the “impartial conduct standards,” consumer protection standards that ensure that advisers adhere to fiduciary norms and basic standards of fair dealing. continue reading »center_img 21SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Trojans hope to rebound after rare loss

first_imgThe USC men’s water polo team will make its long anticipated return to the Uytengsu Aquatics Center on Saturday with a doubleheader against No. 11 Princeton and Whittier College.Brick wall · Even though USC let up a season-high nine goals versus UCLA, USC senior goalie James Clark has averaged just 5.0 goals against. – Daily Trojan file photoThe Trojans are coming off a loss to UCLA in the NorCal Tournament, their first in 42 games. Their 9-8 defeat pushed them down to the No. 2 ranking nationally.“It was one of those games where things just didn’t go our way,” head coach Jovan Vavic said. “Our effort was there all the way down until the wire.”The game against Princeton, one of the better schools historically in water polo, will be the Trojans’ first chance to start a new winning streak. Their loss to UCLA ended their impressive 41-game streak, the longest in the nation and just 5 short of the USC record.Vavic, for the record, seems proud of the way his team is currently handling a rare defeat.“We’ve had a couple of good days of practice and team meetings, and I’m encouraged by the way the team has handled it,” Vavic said.One issue for the Trojans in that defeat, and all season really, has been the up-and-down health of freshman Jon Walters, one of the newcomers who was expected to become a key contributor for the five-time champions this fall.“Walters has been injured since the beginning of the season,” Vavic said. “He only played five minutes (against UCLA).”Luckily, with Vavic’s expert touch, the Trojans have been turning this severe negative into a positive.“Not having him is giving other guys an opportunity to step up and play,” Vavic said. “We’re getting to try out some other players that we otherwise wouldn’t.”Those newcomers off the bench, and the team in general, certainly will enjoy returning home following a grueling three weekends that saw the Trojans play 11 games on the road, including multiple games against ranked opponents.Following the Princeton match, the Trojans will take a quick break before returning to the pool and playing the Whittier Poets. That game will mark the second time this season that the Trojans have gone up against the Poets. The two met earlier in the month at the Inland Empire Classic, and USC dominated whistle to whistle, winning 21-4 to improve their record to 3-0 all-time against Whittier.The Trojans will enter this game at the unusually “low” rank of second nationally. USC had held the top mark in the nation since November 2011 before this week, and will be looking to regain the top spot as soon as possible. Vavic, for one, is hoping that the loss can recenter his team.“Time will tell and I certainly hope it will increase their focus … make them more hungry,” Vavic said.Vavic’s son, standout senior Nikola Vavic enters this weekend second on the USC all-time scoring list, just 16 goals away from taking over the top spot, which is currently held by Jurai Zatovic, who compiled 220 goals in his four seasons for the Trojans.Following this weekend’s matchups, the Trojans will wait a week before hosting UC Irvine on Oct. 5, their last tune-up before heading to the Anteaters’ home pool for the SoCal Tournament. Follow us on Twitter @dailytrojanlast_img read more

Women of Troy host last home matches

first_imgUSC’s 13th-ranked women’s tennis team will have an opportunity to redeem itself  this weekend after suffering back-to-back losses at No. 12 Cal and No. 4 Stanford.Break the chain · Freshman Zoë Katz has lost her last four singles matches, but hopes to get back to her winning ways this weekend. The Los Angeles native is currently ranked No. 101 in the nation. – Ralf Cheung | Daily TrojanBoth the Bears (14-4, 7-0 Pac-12) and the Cardinal (14-1, 6-1) swept the Women of Troy (14-6, 5-2), dealing USC its first two conference losses of the season and spoiling the team’s chances at replicating its undefeated Pac-12 mark from last year.With the losses, the Women of Troy fell into a fourth-place tie in the conference standings, two matches behind Cal and a match behind No. 2 UCLA and Stanford.USC is now gearing up for its last home stand of the season, as No. 19 Arizona State comes to town on Friday and No. 25 Arizona visits USC on Saturday. All three teams are tied with a 5-2 mark in conference play.The 19th-ranked Sun Devils are coming off of a 4-0 win over Colorado and a 4-2 win over Utah last weekend. Arizona State boasts two nationally-ranked singles players in No. 49 Desirae Krawczyk and No. 68 Stephanie Vlad. In addition, Krawczyk and Kassidy Jump comprise the 85th-ranked doubles team in the nation.Arizona will also come to Los Angeles having recently topped Utah, 7-0, and Colorado, 5-2. Much like their rival Sun Devils, the Wildcats have two players ranked in singles: No. 60 Lacey Smith and No. 61 Lauren Marker. Arizona has no ranked doubles teams.Meanwhile, USC boasts four ranked players in singles. Junior Sabrina Santamaria is ranked No. 17 in the nation, but she sustained an ACL injury in March that sidelined her for the remainder of the season.Junior Zoë Scandalis, who has taken over Santamaria’s spot on USC’s top singles court, is next at No. 26. Junior Giuliana Olmos is ranked 76th in the nation, and freshman Zoë Katz rounds out the group at No. 101.Ranked doubles teams for the Women of Troy include the tandem of Olmos and Scandalis, who land at No. 6. The team of Katz and senior Brynn Boren, meanwhile, currently sits at No. 13. Santamaria and senior Kaitlyn Christian, the defending national champions in doubles, come in at No. 25.If history repeats itself, USC’s chances of dispatching the Arizona schools and climbing back into the Pac-12 contender race are solid. Last year, the Women of Troy took home two resounding wins on a road trip to the Grand Canyon State defeating the Sun Devils 7-0 and the Wildcats 6-1. USC was led in those matches by Olmos and Santamaria, who each captured two straight set wins in singles. Still, given the loss of Santamaria to injury and the team’s poor play last weekend, this year’s matches should be more competitive.Interestingly, another good omen for the Women of Troy could be their current two-game losing streak. The two previous times this season that the team lost back-to-back matches, it went on to rattle off five straight wins.USC’s next two games mark its second-to-last weekend of Pac-12 play. On April 18, the team travels to face UCLA, looking for revenge after having fallen to the Bruins twice this season already (once in the ITA National Team Indoor Tournament by a 4-0 score and again last month, 5-2). A week later, both teams will travel to the Pac-12 championships in Ojai, Calif.last_img read more