Are You A Fiduciary?
"Fiduciary" is a word that is generally used in the company of ominous terms like "responsibility" or "liability." But is it a word that describes your role, and...
Compliance
NASD Says Former Wachovia Broker Wrongfully Fired for Market Timing
The National Association of Securities Dealers (NASD) handed down a $4.3 million award to a former Wachovia Securities broker who was fired in 2003 amid the firestorm of...
DOL Unwraps New Default Investment Guidelines
On September 26, US Department of Labor (DoL) officials released a proposed safe harbor rule covering retirement plan sponsors who have default investment options for employees entering plans...
ING Agrees to Settlement in Spitzer Fee Suits
ING Group has agreed to pay $33 million to settle lawsuits which allege it took fees in exchange for promoting particular funds in retirement plans and did not...
Court Approves $11M Settlement in Co. Stock Suit
The US District Court for the Southern District of Ohio has approved an $11 million settlement for a class of former employees of Broadwing Inc., which sued the...
Making Amends: Problems and Solutions for Participant Loan Missteps
According to the IRS, one of the common retirement plan administration mistakes relates to plan loan failures and deemed distributions. Advisers can assist their clients in implementing administrative...