As part of an excessive fee lawsuit against Shell Oil, Fidelity was named as a defendant and accused of breaching its fiduciary duties by sharing participant data with affiliates for solicitation of other products.
Claims were also moved forward against defendant Aon Hewitt Investment Consulting related to a target-date fund (TDF) switch.
The research organization says its latest analysis provides an important and sobering benchmark as policymakers and employers seek to address inequities in savings across races and ethnicities.
The investment firm has agreed to pay $9.65 million to resolve a fiduciary breach lawsuit, first filed in 2017, questioning the fees paid in its own retirement plan.
Trade groups and advocacy organizations representing the retirement planning industry have reacted positively, if cautiously, to the confirmation of Marty Walsh as labor secretary.
The full Senate voted Monday evening to approve the nomination of Boston Mayor Marty Walsh to lead the U.S. Department of Labor at critical time for the U.S. economy and its workforce.
The states’ embrace of the NAIC annuity transaction suitability framework comes as experts are raising broader questions about the durability of the SEC’s Regulation Best Interest, on which the insurance standards are partly based.
A new webpage brings together all the agency’s actions and information as a response to increased investor demand for climate and ESG investing.
Sources say there is a good chance Boston Mayor Marty Walsh will be confirmed by the full U.S. Senate Monday afternoon, but they are less sure about the timing of SEC Chair nominee Gary Gensler’s confirmation vote.
The commission aims to determine if the current disclosures adequately inform investors.
Fiduciaries of the multiple employer plan of professional employer organization (PEO) Nextep, Inc. are being sued over excessive investment and recordkeeping fees.
The Government Accountability Office calls for more guidance on cybersecurity matters and lists recommendations for the DOL to implement.
Among the interesting points of legal discussion in the magistrate judge's report is an evaluation of the standard embraced by the U.S. Circuit Court of Appeals for the 11th Circuit for weighing witness testimony in ERISA cases.
The legislation would require most employers that currently do not offer a retirement plan to offer one.
Both single-employer plans and multiemployer plans will get help with funding.
The financial services company is facing self-dealing allegations that closely echo those filed—with mixed results—against many of its industry peers.
The divided committee vote sets the stage for Gary Gensler’s consideration by the full Senate, a step for which the timing remains unclear, given the chamber’s many competing legislative priorities.
The department says it will not pursue enforcement actions against any plan fiduciary for failure to comply, and it plans to release further guidance on the issues.
Who gets to define best execution? Is T+1 or T+2 better for market stability? What even is payment for order flow? The Senate Banking Committee tackled all these questions and more at a dynamic Tuesday morning hearing.