Compliance
SEC Adopts Pay to Play Curbs
The Securities and Exchange Commission (SEC) has approved new rules regulating pay to play practices by investment advisers at public pension plans and other government investment accounts.
Canadian Couple Charged with Tweet-touting Fraudulent Penny Stocks
The Securities and Exchange Commission (SEC) has obtained an emergency asset freeze against two Canadians who advertised fraudulent penny stocks online.
FL Woman Sues BP Over 401(k) Stock Losses
A Florida woman who invested in the company stock option in BP’s 401(k) plan has sued the company and State Street Bank & Trust.
Legislation Pending to Permit 401(k) Rollovers to Roths
A new Senate proposal would allow certain employees to roll over amounts from their (401)k retirement plans to a Roth savings account.
Fiduciary Breach Case Filed Too Late
A federal appellate court has ruled that a woman who sued over allegations of a fiduciary breach in connection with her deceased husband’s individual retirement account filed the...
Feature: Down, but Not Out
Populist pressures weigh on nonqualified deferred compensation programs.
High Court Revives Janus Market-Timing Suit
The U.S. Supreme Court on Monday agreed to review a lower court ruling that revived a securities class-action lawsuit against Janus Capital Group Inc, Dow Jones reports.
Financial Services Reform Compromise Reached
Last week, members of the House and Senate conference committee announced that they had reached a compromise on the financial services reform bill.
Lanier Law Firm Investigating BP 401(k)
The Lanier Law Firm is investigating possible legal claims related to a 401(k) retirement plan for U.S. employees of BP.
Financial Services Reform Compromise Reached
Last week, members of the House and Senate conference committee announced that they had reached a compromise on the new financial services reform bill.
SPD Language Not a Valid Plan Terms Change
A federal appellate court has ruled that a summary plan description (SPD) could not unilaterally grant a benefit plan administrator the right to make benefit eligibility decisions without...
NM Fund Ponders Aldus Lawsuit
The New Mexico Educational Retirement Board has hired two law firms to represent the teachers’ pension fund in a planned lawsuit against a Dallas money management firm.
Court Approves Settlement in Revenue-Sharing Suit
A federal judge has approved a $13.8 million revenue-sharing based settlement between a provider and the 401(k) plans it supports, but lawyers will take nearly half.
(Yet) Another Law Firm Targets BP
Another law firm has launched an “investigation” of the BP 401(k) plan – and they’re apparently looking for potential plaintiffs.
Consulting Firm Charged with Ponzi Scheme
A Jacksonville, Florida, retirement-benefits consulting firm is facing charges it defrauded government employees through an alleged Ponzi scheme, according to the Securities and Exchange Commission.
Obama Signs Pension Relief
President Obama has signed into law legislation providing pension funding relief for multi-employer and single employer defined benefit plans.
House Passes “Doc Fix” Bill With Pension Relief
The House of Representatives has, by a margin of 417-to-1, passed a bill containing pension relief.
360 Sponsors at least Partly Done on IRS 401(k) Survey
Some 360 of the 1,200 plan sponsor receiving the 401(k) Compliance Check Questionnaire had at least partially completed the document by mid-June, the Internal Revenue Service (IRS) announced.
Court Approves $7.8M Settlement with AA Capital Partners
June 22, 2010 (PLANSPONSOR.com) - The U.S. District Court for the Northern District of Illinois has approved a global settlement agreement providing for recovery of an additional $7.8...