Compliance

A draft bill from House Financial Services Chairman Spencer Bachus (R-Alabama) calls for SEC-registered advisers to be transitioned from SEC regulation to a self-regulatory organization (SRO).

The U.S. District Court for the District of Rhode Island has given a mixed ruling to participants alleging breaches of Employee Retirement Income Security Act (ERISA) fiduciary duties...

The U.S. Department of Labor’s Employee Benefit Security Administration (EBSA) is hosting a Webcast to discuss the final rule on improving the transparency of fees and expenses for...

The Internal Revenue Service has updated its list of entities approved to serve as nonbank trustees or custodians for certain tax-advantaged savings accounts.

The Securities and Exchange Commission (SEC) wants to know what you think about the use of derivatives by mutual funds.

Two New York insurance agent and broker groups appealed a judge's decision upholding a state regulation that requires producers to disclose incentive compensation. 

The U.S. Department of Labor has sued trustees of a benefit fund for violating the Employee Retirement Income Security Act (ERISA) regarding loans issued from the fund.

The question of how broker/dealers (B/Ds) and registered investment advisers (RIAs) should be regulated will be discussed at a hearing on September 13 by a House of Representatives...

Taxpayers who unsuccessfully attempted to transfer amounts from their individual retirement accounts (IRAs) to a retirement plan based on incorrect advice from their financial adviser were granted 60...

A district court has denied participants’ request for attorneys’ fees in their attempt to sue their employer over the selection of funds in their 401(k) plan.

Last week, FINRA not only provided much-needed clarification on acceptable social media usage for financial advisers, but it also recognized social and mobile technology as a boon, not...

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have requested comments from the public to assist in conducting a joint study on stable...

The fiduciary exception to the attorney-client privilege rule extends to plan administration between an ERISA trustee and a plan attorney, the 4th U.S. Circuit Court of Appeals has...

L.A. Times employees of media company Tribune who sued over the 2007 Sam Zell-led takeover of the company have won a $32 million settlement.

PricewaterhouseCoopers (PwC) was unable to prove that its calculation of benefits for cash balance plan participants satisfied the Employee Retirement Income Security Act (ERISA), a court found.

A tax court has upheld a 10% early distribution penalty that the Internal Revenue Service (IRS) imposed on a deemed distribution of a plan loan.

The U.S. Department of Labor’s Employee Benefits Security Administration will host a Webcast on August 24 to inform plan sponsors and service providers about the EBSA enforcement program,...

U.S. Secretary of Labor Hilda L. Solis is asking an appellate court to uphold a district court's decision refusing to dismiss a claim that SunTrust plan fiduciaries...

The Investment Company Institute (ICI) said plaintiffs’ contentions in Tibble v. Edison International that so-called “retail” mutual funds offered by the plan would not have been offered by...

A federal appellate court has upheld a ruling that the cash balance plan offered by El Paso Corporation does not violate the Employee Retirement Income Security Act (ERISA)...