More than two-thirds of plan sponsors say they want the Securities and Exchange Commission (SEC) to draw clearer lines for disclosure requirements for commissions paid to brokers for research and trade execution.
For failing to properly supervise brokers delivering misleading information to plan participants during retirement seminars, Citigroup Global Markets, Inc. will settle with the NASD for more than $15 million and brokers involved will pay between $30,000 and $125,000.
Former managing directors at Putnam Investments Justin Scott and Omid Kamshad have agreed to each pay $400,000 to settle charges with the Securities and Exchange Commission (SEC) over their role in a mutual fund trading scandal dating back to 2003.
Plan sponsors of prototype Roth IRAs interested in taking rollovers from 402A Roth Accounts first have to change their IRA documents to be allowed to do so.
The Internal Revenue Service has issued guidance sanctioning mid-year changes to 401(k) safe harbor plans regarding new rules for Roth deferrals and hardship withdrawals.
The Securities and Exchange Commission (SEC) will host a roundtable discussion about Rule 12b-1 under the Investment Company Act of 1940, which allows mutual funds to use fund assets to finance the distribution of their shares.
BISYS Group, Inc. has agreed to a $25 million settlement with the Securities and Exchange Commission (SEC) over charges that the financial services provider used improper accounting practices to overstate earnings by as much as $180 million.
Although the ruling in Financial Planning Association v. SEC was set to go into effect today, the Securities and Exchange Commission (SEC) has filed a stay, asking for more time to transition fee-based brokerage accounts into other account types.
Five black current and former employees of Bank of America Corp. filed a discrimination suit Thursday against the bank, alleging that it assigns its black employees to primarily minority neighborhoods and low net-worth accounts.
The Securities and Exchange Commission has decided not to challenge a controversial court decision regarding broker registration.
Legislation reintroduced into the U.S. Senate aims to prompt greater retirement planning for women.
Employers without retirement plans would be required to establish an automatic payroll deduction program to an individual retirement account (IRA) under new legislation.
Newly issued rules on the taxation of distributions from Roth 401(k) accounts keep many provisions of the proposed version of the regulations.
Current and former customers of Edward D. Jones&Co. customers who were “victims″ of the firm’s failure to adequately disclose revenue payments from a select group of mutual fund companies have received $79 million in a Fair Fund distribution, the Securities and Exchange Commission (SEC) announced Thursday.
Mutual fund investors dinged by the fund trading scandal are getting ready to get some pay back.
Morgan Stanley has agreed to pay $46 million to settle a gender bias lawsuit brought last June by thousands of female advisers.
The U.S. Department of Labor’s (DoL) Employee Benefits Security Administration will tomorrow publish a "request for information" (RFI) in the Federal Register asking for proposals on how to best approach 401(k) fee disclosures by retirement plans to their participants.
A former corporate actions clerk at ING Financial Services was arrested Thursday on federal wire fraud charges for his part in an embezzlement scheme related to client dividend payments.
The Securities and Exchange Commission (SEC) this year plans to turn its attention to fees paid, and how they are disclosed, to 401(k) plan investors, according to Chairman Christopher Cox.
The Treasury Department and the Internal Revenue Service (IRS) have issued final regulations for the application of Section 409A on Nonqualified Deferred Compensation Plans.