Compliance

The New York Stock Exchange appears to be investigating three advisers, known as the CBS Group, who were involved in market timing five years ago, fining their supervisors...

A Florida pension plan has sued ING Group in federal court claiming that the financial services firm charged the plan higher fees to cover revenue-sharing payments.

Regulators on Wednesday released guidance on how to properly implement new Pension Protection Act (PPA) rules governing a variety of qualified plan distributions.

The former chief of Putnam Investments, Lawrence Lasser, has agreed to a $75,000 settlement with the Securities and Exchange Commission (SEC), putting an end to allegations that the...

Connecticut Attorney General Richard Blumenthal this week announced that The St. Paul Travelers Companies, Inc. plans to stop paying contingent commissions to insurance agents and brokers by the...

Massachusetts Secretary of State William Galvin is looking into whether hedge funds have increased their trading fees to compensate banks for office space they lease as a temporary...

The St. Louis-based law firm of Schlichter Bogard&Denton has filed another 401(k) fee lawsuit.

Securities fraud class actions decreased by 38% in 2006, falling from 178 filings in 2005 to just 110 in 2006 - the lowest ever recorded in a calendar...

On the last day of 2006, two more financial services firms announced settlements with regulators about their insurance business practices.

The US Attorney for the Western District of Tennessee has announced James Michael Foley, former Vice President of Sales for UnumProvident Corporation, pled guilty on Friday to fraud...

Federal regulators have turned to the public for comment on how to formulate guidance on “phased retirement″ in-service plan distributions as provided for by the Pension Protection Act...

You may think things are crazy this time of year in your office – and they may well seem that way. Advisers are human, after all, and advisory...

Facing a backlog of about 1,200 requests for Internal Revenue Service (IRS) determination letters on cash balance conversions, the agency announced Thursday that it had lifted a 1999...

Fidelity Investments has announced it will pay more than $42 million to its funds after a report issued by independent trustees of Fidelity’s board said some of its...

Deutsche Asset Management (DeAM) confirmed Thursday that it has settled proceedings with the Securities and Exchange Commission (SEC) and New York Attorney General Eliot Spitzer related to alleged...

Chubb Corporation announced on Thursday it will discontinue paying contingent commissions on all insurance lines in the United States beginning in 2007 as part of a settlement agreement...

The Internal Revenue Service (IRS) and Treasury Department have issued final regulations that provide guidance concerning prohibited allocations and disqualified person requirements under section 409(p) of the Internal...

The sponsor of a 401(k) plan for employees at an Illinois racetrack is suing Principal Financial Group for fiduciary breach over revenue sharing arrangements with mutual funds whose...

In a lawsuit filed earlier this month, New York Attorney General Eliot Spitzer’s office charges UBS Financial Services, Inc. with leading inappropriate clients into its InsightOne brokerage program...

A federal judge in New York has ruled in a lawsuit that Citigroup's cash balance plan is not “age neutral″ in the latest in a long line of...