Cox Says 12b-1 Fees a “Sales Load in Drag"
The Securities and Exchange Commission (SEC) this year plans to turn its attention to fees paid, and how they are disclosed, to 401(k) plan investors, according to Chairman...
Compliance
Final Deferred Compensation Regulations Issued
The Treasury Department and the Internal Revenue Service (IRS) have issued final regulations for the application of Section 409A on Nonqualified Deferred Compensation Plans.
Antitrust Suit Against Insurers and Brokers Dismissed
A federal judge threw out an antitrust lawsuit against dozens of insurance brokers and insurers at some of the largest U.S. firms by policyholders who claimed that the...
IMHO: The 80/20 Rule
Sooner or later in your career, you are exposed to the 80/20 rule or, as purists term it, the Pareto principle.
SEC “Merrill Lynch Rule″ Governing Advice Struck Down
The Securities and Exchange Commission’s (SEC) rule exempting certain broker-dealers who offer investment planning advice from strict disclosure requirements was overturned Friday.
U-5 Notices Get Absolute Privilege
The New York Court of Appeals ruled that the notices employers must provide to the National Association of Securities Dealers (NASD) when they terminate an employee cannot be...
$14M Award to Brokers Fired For Market-Timing Upheld
Rejecting Merrill Lynch’s requests to throw out the award, a federal judge upheld a $14 million award to three former Merrill Lynch brokers fired over allegations of improper...
Most Tell SPARK They’re Ready for 22c-2
Nearly all recordkeepers say they’ll be ready for the Securities and Exchange Commission's (SEC) Rule 22c-2 deadline of April 16.
Plan Adviser Giving Investment Advice is a Fiduciary
A brokerage firm that gave investment advice to a profit sharing plan for a fee is considered a fiduciary under the Employee Retirement Income Security Act (ERISA), according...
Saver’s Credit Still a “Mystery″, According to Transamerica Data
Surveys suggest that the take-up rate on the so-called Saver’s Credit is relatively tepid.
Road Warriors, Beware!
If you access your retirement accounts online while on the road, be careful.
Regulators Still Probing Morningstar Advice Practices
In its most recent filing with the Securities and Exchange Commission, Morningstar Associates, LLC said that the SEC has ended an investigation into the firm’s practices, while the...
Everybody’s into the Pool!
Odds are—no pun intended—you’ve been handed (or e-mailed) an NCAA Division 1 basketball grid this week.
IMHO: Price "Check"
The good news is, Congress is beginning to take a hard look at 401(k) fees.
401(k) Fee Hearings Begin on Capitol Hill
Congressional hearings focus on whether fees paid by 401(k) participants are fair and properly disclosed.
Investment Advice Exemptions Have Unresolved Issues
It is not easy to be in compliance with the new investment advice exemptions under the Pension Protection Act (PPA).
IMHO: Option “Null″
Not too long after my first daughter was born, my wife decided that we needed to have a vehicle with four doors.
Teachers Sue MetLife, Consultant for Rigging 403(b) Options
Several Indiana teachers have filed what could become a class-action lawsuit, accusing MetLife and a financial consultant of rigging their 403(b) investment options.
NASD Charges Prudential Brokers with Aiding Deceptive Market Timing
The National Association of Securities Dealers (NASD) has charged two former Prudential Securities Inc. (PSI), brokers in Utah for aiding a hedge fund manager’s deceptive practices to market...
NASD Fines Three Distributions for Non-Cash Comp Violations
NASD has fined three investment distributors a total of $700,000 for violations of NASD's non-cash compensation rules, including improperly providing entertainment and paying for guest expenses at training...