Compliance

The Securities and Exchange Commission (SEC) proposed a rule mandating that certain financial institutions keep away from compensation arrangements that encourage inappropriate risk taking.

The American Society of Pension Professionals and Actuaries (ASPPA) presented a statement this week at a Department of Labor-sponsored hearing regarding proposed changes to the definition of “fiduciary.”

Tremont Group Holdings faces a $2.1-billion lawsuit for allegedly missing warning signs about Bernard Madoff's Ponzi scheme.

Paul Stevens, president of the Investment Company Institute (ICI), presented his organization’s statement to the Department of Labor (DoL).  

The Securities Industry and Financial Markets Association (SIFMA) had its turn Tuesday at the Department of Labor’s (DoL) hearing to address the proposed changes to the definition of...

A U.S. District Court judge has granted final approval of an $18.5-million settlement in an excessive 401(k) fee suit.

J.P. Morgan believes that the proposed regulations to redefine the definition of fiduciary should eliminate unnecessary and subjective standards.

Larry H. Goldbrum, General Counsel of The SPARK Institute, said any changes to the definition of fiduciary should not be overly dramatic changes in policy.

Federal regulators heard from the president of Great-West Retirement Services who said efforts to rework the definition of a fiduciary could "set the retirement industry back 25 years."

The American Benefits Council (ABC) spoke at the Department of Labor’s (DoL) hearing today about its proposed redefinition of fiduciary.

The Internal Revenue Service (IRS) issued a notice of guidance regarding employer securities held by certain qualified retirement plans.

State Street Corp. has reported that the Securities and Exchange Commission (SEC) is continuing its investigation of the Boston-based company’s stock lending program.

Healthcare Strategies Inc. is accusing ING Life Insurance and Annuity Company of violating the prohibited transaction rules of the Employee Retirement Income Security Act (ERISA).

Fee disclosure regulations coming in 2011 and 2012 may seem daunting, but they also abound in opportunities.

The Internal Revenue Service’s Employee Plans Compliance Unit announced the completion of the information-gathering phase of its 401(k) Questionnaire Project.

The Government Accountability Office (GAO) recommended that the Department of Labor (DoL) take action to assist retirement plan sponsors in selecting appropriate target-date funds.

A third-party administrator pleaded guilty to one count of embezzlement of $1 million in assets from 12 retirement plans. 

Commenting on swap regulations under the Dodd-Frank financial reform bill, the ERISA Industry Committee (ERIC) asked for special considerations for employee benefit plans.

The Internal Revenue Service (IRS) has provided clarification on how section 403(b) plan termination provisions apply.

ASPPA and a group of 403(b) plan professionals have renewed their appeal to the government for additional relief for 403(b) sponsors struggling to meet new compliance requirements of...