Trump Announces Nomination for Secretary of Labor
Eugene Scalia, son of late Assistant Supreme Court Justice Antonin Scalia, was part of the team that defended the Chamber of Commerce in its lawsuit against the previous...
Compliance
FINRA Share Class Sweep Highlights Importance of Cooperation
The regulator granted significant credit for “extraordinary cooperation” to those firms which were proactive in identifying and fixing issues related to fee waivers for certain mutual fund share...
SunTrust Wins Narrow Summary Judgement in Long-Running ERISA Suit
A federal court has rejected the argument that defendants were aware that their predecessor fiduciaries had breached their duties in selecting affiliated funds and thus that they breached...
Industry Demands Delay of New Jersey Fiduciary Regs, Deference to SEC
Advocacy and lobbying organizations representing the interests of brokers/dealers and investment advisers operating in New Jersey continue to voice their disapproval of the proposed regulations.
Fiduciary Clarity Needed for Successful Open MEP Expansion
Open MEPs as detailed in the SECURE Act offer a structure for a small plan to get maximum fiduciary support,...
GWU Lawsuit Dismissed for Lack of Standing
In a case alleging George Washington University violated ERISA fiduciary duties with regard to retirement plan fees, a federal judge found the plaintiff had waived her right to...
Adidas 401(k) Lawsuit Argues Passive Funds Best for Participants
Participants allege Adidas’ decision-making, monitoring and soliciting bids from investment funds was deficient
Investment Managers Share Steps They Take for Compliance
A survey finds cybersecurity is registered investment advisers' (RIAs) highest concern.
Labor Secretary Acosta Resigns Amid Controversy
President Donald Trump announced Deputy Labor Secretary Patrick Pizzella will replace Acosta's role in an acting capacity.
ERISA Title IV Determination Process Updated by PBGC
Among other elements, Title IV of ERISA is used to determine liability for PBGC termination premiums.
Split House Committee Advances Stressed Union Pension Loan Program
Democrats on the House Ways and Means Committee were adamant the bill is a positive first step that can and should be built upon in a bipartisan manner.
Human Error Leaves Retirement Plan Data Exposed
Experts in financial services cybersecurity are confident in most organizations’ technical strategies—in their use of sophisticated firewalls, encryption and network...
Dow, DuPont and Corteva Sued for Allegedly Ducking Pension Obligations
According to plaintiffs in a new ERISA lawsuit, the pension plan in question was underfunded by nearly $6 billion dollars when its assets and liabilities were transferred to...
SECURE Act Ensnared in Senate After Flying Through House
Washington insiders say Senator Ted Cruz is probably the biggest roadblock to the SECURE Act being passed in the near-term...
Without Infrastructure Fees, Recordkeepers Would Go Out of Business
This was one of Fidelity's arguments in a memorandum to support its motion to dismiss a consolidated lawsuit alleging it is receiving “secret” or “kickback” payments from providers...