A bipartisan group of representatives is seeking to require the Securities and Exchange Commission to revise its rules regarding the development and offering of certain annuity products.
The district court ruling in the case, now backed by an appeals court, stands out for having been filed alongside a sanction declaring the plaintiff’s law firm Schlichter Bogard & Denton behaved “recklessly.”
Those participating in a Senate Finance Committee hearing discussed ways to boost employees’ retirement savings, help with financial wellness and make it easier to offer a retirement plan.
The Encouraging Americans to Save Act would expand the saver’s tax credit and add a COVID-19 recovery bonus for middle- to low-income workers.
All firms involved have agreed to settle the allegations that they missed regulatory deadlines for the customer relationship summaries.
The agency clears up timing questions in a FAQs document and says it realizes the concerns about timing if its final rule differs from its previously published interim final rule.
The suit says the solution directed participant contributions into high-cost investments.
Democratic lawmakers in the House and Senate say the bill is needed to help address longstanding retirement insecurity issues—and to address some of the negative impacts of the pandemic.
Congressional leaders and asset management executives say they are committing to furthering legislation to expand coverage and boost savings
The appeals court has technically affirmed, vacated and reversed parts of a district court ruling that granted summary judgement against the plaintiffs; while this sounds like a mixed outcome, the appellate ruling benefits the defense.
The firm is accused of failing to take sufficient steps to monitor customer accounts for further payments to a former adviser—himself accused of substantial wrongdoing—whose registration last lapsed in 2014.
The lawsuit suggests that MetLife had an imprudent and disloyal preference for its index fund products, in part because of fees and tax deductions it received.
The agency has added two correction methods for overpayments by DB plans and expand the ability to correct an operational failure by plan amendment, among other things.
The lawsuit challenges the company's use of an active TDF suite in its 401(k) plan, among other things.
A subsidiary of TIAA will settle conflict of interest charges related to the provision of rollover advice to employer-sponsored retirement plan participants; the development offers up some important considerations for financial services professionals.