AT&T Files Motion to Dismiss Lawsuits Related to Athene Deal
The telecommunications firm says allegations of fiduciary breach are misplaced and should sit with its independent fiduciary SSGA.
Compliance
SEC’s Private Fund Adviser Rule Struck Down by 5th Circuit Appeals Court
The 5th Circuit vacated the rule completely on Wednesday after being challenged by an association of private fund managers and...
Showing Net Performance in Portfolio Subsets Is Hardest Part of Marketing Rule
The majority of investment advisers are changing marketing materials to try and comply with the rule, with frustrations, according to...
ERISA Contributed to DB Plan Decline, Experts Say
The replacement has been an undefined system largely managed by individuals, according to experts discussing ERISA 50 years on.
Lawsuit Against TIAA Over Managed Account Service Moves Forward
TIAA’s request was denied to dismiss a lawsuit brought against the insurance company for allegedly pushing for participants to use...
ERIC Lays Out Its IRS, Treasury Priority Areas
A letter from the ERISA Industry Committee lays out recommendations for its 2024-2025 Priority Guidance Plan for regulators including retirement...
Bechtel Faces 401(k) Suit Over Default Managed Accounts
The global engineering firm’s $5.1 billion retirement plan committee is sued for defaulting participants into managed accounts plaintiff alleges did...
Chamber of Commerce, ERIC Plead for Fewer Retirement Plan Disclosures
The interest groups agree that most participants do not read nor understand many disclosures related to their retirement benefits.
9 Insurance Trade Groups File Suit Against DOL’s New Fiduciary Proposal
The firms filed a suit in Texas court seeking to undue the Retirement Security Rule aiming to rework the definition...
Packaging Co. Hit with Excessive Fee Suit on $1.2B 401(k)
Plaintiffs allege Sonoco’s plan committee did not regularly put out requests for proposal to recordkeepers to reduce plan fees for...
Senate Introduces Bill to Require SEC to Modify Small Entity Definition
The bill has already passed the House.
SEC Considering Modified Version of Much Maligned Predictive Data Analytics Proposal
The regulator’s chair noted that withdrawing the proposal is not under consideration.
DOL’s Hauser ‘Comfortable’ New Fiduciary Rule Addresses Prior 5th Circuit Rebuttal
The official made the comments to a legal association a few days after the FACC filed a motion to pause...
SEC’s Gensler Seeks to Clarify Mutual Fund Swing Pricing Proposal
The Chairman suggested that the regulator might opt for liquidity fees instead of swing pricing for open-end funds and also...
Digital Assets Legislation Passes House of Representatives
The bill would define the jurisdictions of the SEC and CFTC for crypto assets but it is likely to be...
T+1 Cycle to Start May 28
Beginning in one week, broker/dealers must settle transactions by the next business day.
Reg S-P Requires Advisers to Inform Customers of Data Breaches
In addition to other registrants, advisers will have 30 days to inform their clients of any substantial data breach.
ESOP Appraisal Proposal Expected in Coming Months
EBSA has not, however, set a hard deadline for the much-anticipated proposal.
Biden Imposes New Tariffs on Chinese Steel, EVs
The tariffs affect many industries, but are relatively small in scope.
New DOL Fiduciary Rule: Top 5 Facts Advisers Should Know
ERISA experts from Faegre Drinker Biddle & Reath provide guidance to registered investment advisers on the DOL’s new Retirement Security...