MSSB Share Class Calculator Errors Led to SEC Settlement

According to the SEC, Morgan Stanley Smith Barney’s share class calculator had two operating errors that caused it not to provide the most beneficial share class to eligible customers; the firm was also accused of not consistently providing this benefit to certain eligible clients.

Corporate America Pushes for SECURE Act Passage

It’s not just the financial services industry pushing for passage of the Setting Every Community Up for Retirement Enhancement Act; chambers of commerce, consumer advocacy groups and major U.S. corporations are also voicing support.

$18.1M ERISA Lawsuit Settlement Price Tag for MIT

In addition to the sizable monetary settlement, the defense has agreed to certain changes in the way it pays for recordkeeping and administrative services—though MIT in the end admits no wrongdoing or further liability.