Compliance

Holzer Holzer & Fistel, LLC is investigating potential violations of the Employee Retirement Income Security Act (ERISA) by GlaxoSmithKline plc. 

In the first such action of its kind, the U.S. Securities and Exchange Commission (SEC) charged the state of New Jersey with securities fraud for not properly disclosing...

The Financial Industry Regulatory Authority (FINRA) has fined Merrill Lynch $500,000 for failing to provide sales charge discounts to customers of eligible purchases of Unit Investment Trusts (UITs).

A federal judge has thrown out a lawsuit accusing Raymond James of misleading investors and reserving too little for loan losses.  

New Federal Reserve regulations exempting most plan loans from federal Truth in Lending Act (TILA) disclosure requirements became effective in July. 

Beginning with returns for the 2009 plan year, the Schedule SSA has been eliminated as a schedule of the Form 5500 annual return/report and is replaced with Form...

The Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), and North American Securities Administrators Association (NASAA) have outlined practices used by financial services firms to strengthen...

A stock drop lawsuit has been dismissed, according to plaintiffs’ attorneys. 

A federal judge has given final approval to a $16.5-million settlement of an excessive 401(k) fee suit against Caterpillar, Inc.

The Pension Benefit Guaranty Corporation (PBGC) has assumed responsibility for seven plans covering almost 2,360 workers and retirees of the Chicago Sun-Times. 

A New Mexico judge has approved an unusual plea deal in a securities fraud case allowing a former Albuquerque stock broker accused of fleecing clients in order to...

Massachusetts Congressman Richard E. Neal has introduced the Automatic IRA Act of 2010 in the U.S. House of Representatives. 

Admitting it was creating “tension” with the plan documents rule in federal benefits law, a federal appellate court has allowed an employer to correct a drafting error that...

The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) will hold a free New York City workshop on September 1 about its Voluntary Fiduciary Correction Program (VFCP)....

U.S. Senator Jeff Bingaman (D-New Mexico) has introduced legislation that, when fully phased in, would give nearly 42 million Americans an “easy, effective way to take responsibility...

Federal agents have arrested a New Jersey man on charges he embezzled $263,000 from his company’s pension fund. 

General Dynamics Corporation and Fiduciary Asset Management (FAMCO) have agreed to a $15.1-million settlement of a 401(k) excessive fee lawsuit.