Fiduciary Breach Suit Against Nationwide Survives a New Challenge >
October 05, 2007 -- A federal judge in Connecticut has cleared the way for the trustees of five 401(k) plans to pursue their claims that Nationwide Financial Services was a fiduciary because it could change the plans’ investment lineups.
Prudential Accuses SSgA of ‘Misrepresented’ Investment Strategies >
October 02, 2007 -- The Prudential Retirement Insurance and Annuity Co. (PRIAC) on Monday filed suit against State Street Global Advisors (SSgA) over losses in SSgA-managed funds for which PRIAC claims the investment strategies were misrepresented.
House Panel Sets Hearing on Miller Fee Disclosure Bill >
October 02, 2007 -- The U.S. House Education and Labor Committee will hold a hearing Thursday to discuss a proposal requiring greater 401(k) fee disclosure by plan sponsors and providers.
IMHO: “We’re from the Government, and We’re Here To Help″ >
September 30, 2007 -- Despite the variety of advisers, practices, business models, and broker-dealer affiliations at our recent PLANADVISER National Conference, there was a remarkable degree of convergence of purpose in evidence.
Investor Advocacy Group Blasts FINRA Complaint Resolution Process >
September 27, 2007 -- A group representing individual investors has released a study asserting that a Wall Street watchdog has too easily allowed brokers to expunge client complaints from their records – sometimes without holding a hearing.
PA NC: Revenue Sharing: Getting Your Fair Share >
September 27, 2007 -- Scrutiny of fees has never been more intense. A panel of advisers discussed how they are responding to the environment while protecting their bottom line.
Fed Seconds SEC Vote for Broker Exceptions For Banks >
September 25, 2007 -- The U.S. Federal Reserve gave its nod to a regulation allowing banks to continue selling some securities products and services without having to register as brokers with the Securities and Exchange Commission (SEC).
Certify Able >
September 22, 2007 -- Concerns about unscrupulous financial advisers using faux designations to mislead individual investors have resulted in a number of state initiatives to crack down on how these designations are used.
SEC Says Callan Failed to Disclose Conflict-of-Interest Relationship >
September 21, 2007 -- The Securities and Exchange Commission (SEC) has issued a cease-and-desist order against pension consultant Callan Associates for failing to tell its clients about an outside business relationship that could affect the investment advice it gave.
Biden Announces Retirement Plan Proposal >
September 21, 2007 -- Democratic presidential hopeful Senator Joe Biden has put forth his plan to help Americans save for retirement.