SEC Functions Could be Divided under Obama Proposal
The Obama administration might call for stripping the Securities and Exchange Commission (SEC) of some of its powers.
Compliance
RadioShack Plaintiffs Seek Class Action
Lawyers representing plaintiffs alleging a fiduciary breach in the operation of the RadioShack 401(k) have asked a federal judge to certify the suit as a class action.
IRS Opens Door for Safe Harbor Cuts
The Internal Revenue Service proposed rules that would permit employers affected by substantial business hardship to decide mid-year to reduce or suspend non-elective contributions to safe harbor 401(k)...
Defunct 401(k) Plan to Restore Plan Benefits
The U.S. Department of Labor obtained court judgments ordering that $97,317 in benefits be restored to the 401(k) retirement fund of now-defunct Triangle Laboratories.
Bill Would Waive Some 401(k) Withdrawal Penalties
Under proposed legislation, participants undergoing specific financial hardships would get some relief on 401(k) penalties.
Retiree Health Care Waiver not Taxable Income
The Internal Revenue Service (IRS) ruled that an arrangement under which employees could give up the right to get retiree health benefits in exchange for a higher future...
Jury Convicts Former Monster Exec in Options Backdating
A federal court jury in New York has convicted James Treacy, former chief operating officer of employment Web site Monster Worldwide, of defrauding investors through improper stock option...
SEC Proposes Tighter Adviser Custody Rules
The Securities and Exchange Comission (SEC) today proposed tighter rules for investment advisers who custody assets.
Social Security Outlook Dims
An annual report by the Social Security and Medicare Board of Trustees indicates the financial downturn has worsened the long-range financial outlook of the system.
EBSA/SEC to Hold Target-Date Hearing
The Department of Labor (DoL) and the Securities and Exchange Commission (SEC) are looking into target-date funds.
Schapiro Plans to Increase SEC Enforcement
Chairman Mary Schapiro today outlined new plans for enforcement of the Securities and Exchange Commission (SEC).
Law Firm Can Proceed With 401(k) Consulting Suit
A federal judge in California has rebuffed demands from JP Morgan Chase and Co. that it dismiss a lawsuit alleging mistakes that could imperil the tax-favored status of...
GM Single-Equity Suit Falls
A group of General Motors defined contribution plan participants cannot proceed with their lawsuit claiming GM had improperly included undiversified single-equity funds in its plans.
Marsh Settles Bid-Rigging Charges with Conn.
Marsh&McLennan Cos. Inc. agreed Wednesday to pay $2.4 million to settle bid-rigging and client-steering charges leveled by Connecticut Attorney General Richard Blumenthal.
FINRA Settles ARS Violations with Four More Firms
The Financial Industry Regulatory Authority (FINRA) said it entered settlements with four more firms relating to the sale of auction rate securities (ARS).