Compliance

The U.S. Department of Treasury has delivered proposed legislation to Congress that would strengthen the Securities and Exchange Commission's (SEC) authority.

The U.S. Senate has approved the nomination of Phyllis Borzi as assistant secretary of labor for the Department of Labor’s Employee Benefits Security Administration (EBSA).

A woman accused of stealing from a co-worker’s 401(k) account has been sentenced to a one-year jail term.

Wachovia Bank did not violate the Employee Retirement Income Security Act (ERISA) when it sent a form letter to investors notifying them of a fund's merger with another...

A former Goldman Sachs computer programmer was charged with stealing trade secrets based on the theft of computer codes used for automated stock and commodities trading.

Anheuser-Busch has been hit with a federal court lawsuit alleging the brewer and a trustee improperly designated an overly risky qualified default investment alternative (QDIA) for participants’ cash...

U.S. Supreme Court justices have agreed to consider an appeal of a case involving the method used by the Xerox Corp. pension plan to figure out how much...

The newest U.S. senator—Al Franken (D-Minnesota)—will help ponder significant reforms in both the pension and health care arenas when he formally takes his seat in the chamber.

A Texas state district judge approved the start of a claims process for Texans who invested with a Houston company accused of scamming retired teachers, state workers, and...

Florida Governor Charlie Crist signed into law legislation enhancing registration requirements for investment advisers, dealers, and other personnel.

It may be of little consolation to his victims, but a federal judge gave Bernard Madoff a sentence that should keep him behind bars for the rest of...

Staff investigators at the Securities and Exchange Commission (SEC) have announced their intention to get permission from commissioners to file civil charges against State Street Bank and Trust...

Northern Trust faces yet another suit over its securities lending program as fiduciaries of Lockheed Martin Corp.'s defined contribution plans filed a lawsuit June 23 in the U.S....

A female broker accused Bank of America (BofA) of gender bias by offering female former Merrill Lynch brokers lower retention payments than their male counterparts.

Faced with pressure to take another look at its February 2009 decision in a widely watched 401(k) excessive fee case, a federal appellate court has turned down the...

Three former financial representatives of Northwestern Mutual Life Insurance Co. have filed a $200 million lawsuit against the company for failing to pay them overtime wages under California...

Retirement plan fiduciaries may have another acronym to worry about—FBAR—which is another name for the Report of Foreign Bank and Financial Accounts.

The U.S. Department of Labor has obtained a judgment in federal district court that will lead to the distribution of $164,251 in 401(k) plan assets to 14 participants.

The U.S. District Court for the Southern District of Florida declined to enforce arbitration clauses contained in account agreements between the City of Delray Beach Police and Firefighters...

The Financial Industry Regulatory Authority (FINRA) is pegging a $1.4 million fine on Wachovia Securities for its failure to deliver prospectuses and product descriptions to customers who purchased...