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. 

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...

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. 

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.