Wednesday was a busy day for the U.S. Securities and Exchange Commission, which voted to propose two separate regulations that will impact investment managers and registered investment advisers—and which sources say are likely to generate substantial public comment and debate.
Leaders at the SEC say the role of the examinations program is critical for capital markets to function well and keep the public’s trust.
Case focused on misstatements and omissions regarding ESG offerings.
The long-awaited full Senate hearing is now on the docket for next week.
The plaintiffs in the suit, who have already sued their plan sponsor, are now bringing a service provider into the litigation.
A settlement has been struck in an ERISA lawsuit involving the New Jersey-based health care provider a little more than a year after a judge allowed the case to proceed past the defense’s motion to dismiss.
The SEC says the charges and settlement show even the most sophisticated institutional investors, like pension funds, can become victims of wrongdoing.
The additional extension comes after they IRS solicited public comments on whether relief from the physical presence requirement should be made permanent.
With South Carolina joining the party, nearly half of all states have now adopted enhanced consumer protections applying to the sale of annuities, as developed by the National Association of Insurance Commissioners.
Though the court previously allowed class certification in the case, a new order firmly rejects the plaintiffs’ arguments that they were entitled to certain foreign tax rebates generated by group variable annuity contracts they had signed.
The lawsuit closely resembles numerous others previously filed by the law firm Capozzi Adler but adds new argumentation based on a recent Supreme Court ruling.
The 6th U.S. Circuit Court of Appeals has ruled that certain types of ERISA claims, while brought by individual participants, ultimately belong to the plan as a whole, meaning individual arbitration agreements cannot as a matter of course prevent such claims from proceeding in court.
A financial services firm is accused of failing to properly secure and safeguard personally identifiable information provided by and belonging to its customers.
The legislations’ backers say their proposal will lower the cost of providing plans for small business owners.
Experts with the Wagner Law Group say complying with the marketing rule can be a significant process, and firms need to make sure they are on track for full compliance by early November.
The bill’s cosponsors say workers need better information about how the choice of a lump-sum buyout of their lifetime pension could undermine their financial future.
Plaintiffs have refiled an ERISA lawsuit against UPS, more than a year and a half after their original complaint was dismissed for their failure to exhaust all administrative remedies prior to engaging in litigation.
An individual with self-only coverage under a high-deductible health plan can direct a new limit of $3,850 into their health savings account—$200 more than the 2022 cap.