Compliance

The Securities and Exchange Commission (SEC) has approved a new Financial Industry Regulatory Authority (FINRA) rule governing broker-dealer sales practices with respect to purchases and exchanges of deferred...

The Financial Industry Regulatory Authority (FINRA) announced the initiation of two regulatory sweeps intended to ensure that securities firms are using appropriate sales practices in their dealings with...

The Treasury Department and the Internal Revenue Service (IRS) on Monday gave plan sponsors until December 31, 2008 to bring documents into compliance with the final nonqualified deferred...

A $125 million settlement between Merrill Lynch&Co. and investors over the company’s publishing of biased research got federal court approval on Wednesday, Reuters reported.

With an anti-market timing rule scheduled to go into effect October 16, 2007, Securities and Exchange Commission (SEC) regulators have warned the investment industry not to misuse investor...

Employees who have cashed out of their employer-sponsored retirement plans but still want to bring fiduciary breach suits seem to be getting some judiciary backing, with another federal...

Participants in two Principal Financial Group 401(k) plans have sued the Des Moines, Iowa-based plan provider, alleging it fraudulently convinced them to roll over their balances into a...

The Treasury Department and Internal Revenue Service (IRS) have issued proposed regulations providing guidance on changes made by the Pension Protection Act of 2006 (PPA) regarding the use...

A U.S. Bankruptcy Court judge in Ohio has ruled that a 401(k) participant can't deduct $269 in monthly repayments for three plan loans from his monthly income to...

The Securities and Exchange Commission (SEC) has approved two more settlements involving improper mutual fund trading with two former California hedge fund managers.

A group of 92 large law firms has asked the Internal Revenue Service (IRS) for a one-year extension to comply with new §409A regulations, saying the current timeline...

Best practices in managing fees includes documenting fee analysis and review process; designing and maintaining investment policy statements; negotiating costs with provider; and avoiding costly investments, said litigator...

These days, the Pension Protection Act of 2006 (PPA) is sometimes referred to as the “Pension Destruction Act.″

The U.S. District Court for the Southern District of Illinois refused to toss out allegations that Lockheed Martin Corporation breached its fiduciary duty by charging its 401(k) plan...

Federal regulators have distributed about $55.6 million to more than 200,000 investors hurt by market timing transactions in One Group Funds from Banc One.

St. Louis-based General American Life Insurance Company, a unit of MetLife, and a former executive have agreed to a $3.4 million settlement of late-trading charges with the Securities...

Correspondents offering input to the U.S. Department of Labor (DoL) about revisions to 401(k) fee disclosures said that educating plan sponsors and participants about fees was important but...

Morgan Stanley has agreed to settle a class-action lawsuit that accused the investment bank of discriminating against black and Latino employees in its retail brokerage division since 2002.

A federal judge presiding over a lawsuit against the Principal Financial Group over its 401(k) revenue sharing arrangements has cleared the way for the case to be moved...

Just after the introduction of a new bill regarding 401(k) fee disclosures, another House Committee is gearing up for hearings on the issue.