Compliance

DoL Receives Letters Urging Caution in Fee Disclosure

Correspondents offering input to the U.S. Department of Labor (DoL) about revisions to 401(k) fee disclosures said that educating plan sponsors and participants about fees was important but suggested that any revisions needed to be carefully pondered.

Fidelity Sued Over 401(k) Revenue Sharing Payments

Seeking class action status on behalf of all plan sponsors, plan administrators and trustees of defined contribution plans in which Fidelity now serves or has served as a trustee, a plan sponsor has sued Fidelity Management Trust Company, alleging the provider got

403(b) Programs Don’t Have to be ERISA Plans

A day after the Internal Revenue Service (IRS) released the final version of its 403(b) rules, the Department of Labor (DoL) said Tuesday that the plans can be set up so they are exempt from the Employee Retirement Income Security Act (ERISA).

Final 403(b) Regulations Released

Experts say that the finalized 403(b) rules, released on Monday by the Internal Revenue Service (IRS), represent a potential opportunity for plan advisers.

Smith Barney Fined $50M for Market-Timing Violations

NYSE Regulation, Inc. has censured and fined the Smith Barney Division of Citigroup Global Markets Inc. (“CGMI″) for failing to supervise trading of mutual fund shares and variable annuity mutual fund sub-accounts, failing to prevent market-timing violations by its brokers, and failing to maintain adequate books and records.

SPARK Weighs In On 12b-1 Fees

Retirement services trade group The SPARK Institute has asked the Securities and Exchange Commission (SEC) to continue allowing mutual funds to pay 12b-1 fees to retirement services providers, but said that the fees should be disclosed to participants.

What’s In a Name?

That which we call a rose by any other name might smell as sweet – but that doesn’t mean you can call it a rose.

SEC Proposes INVESCO Market Timing Distribution

The Securities and Exchange Commission (SEC) has filed a proposed plan to distribute money in a Fair Fund as part of the agency’s market timing case against INVESCO Funds Group, Inc., AIM Advisors, Inc., and AIM Distributors, Inc.