DOL, SEC Join Up To Protect Retirees' Money

Law360, New York (July 28, 2008, 12:00 AM EDT) -- Top Bush administration officials vowed Tuesday to strengthen cooperation in the effort to safeguard billions of dollars owed to Americans in pensions, 401(k) accounts and other assets as they retire.

"It's been a long-neglected area," said Bob Carlson of on Wednesday. "There's never been a unified approach to it."

Under the Memorandum of Understanding, the U.S. Securities and Exchange Commission and the U.S. Dept. of Labor have said they will cooperate in an effort to protect $5.8 trillion in retirement assets currently held by American...
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