IRS Puts Out Roth IRA Rollover Final Regs
Plan sponsors of prototype Roth IRAs interested in taking rollovers from 402A Roth Accounts first have to change their IRA documents to be allowed to do so.
Compliance
Mid-Year Amendments to 401(k) Safe Harbor Plans Allowed
The Internal Revenue Service has issued guidance sanctioning mid-year changes to 401(k) safe harbor plans regarding new rules for Roth deferrals and hardship withdrawals.
12b-1 Fees to be Topic of SEC Roundtable
The Securities and Exchange Commission (SEC) will host a roundtable discussion about Rule 12b-1 under the Investment Company Act of 1940, which allows mutual funds to use fund...
BISYS Settles SEC's Improper Accounting Allegations for $25M
BISYS Group, Inc. has agreed to a $25 million settlement with the Securities and Exchange Commission (SEC) over charges that the financial services provider used improper accounting practices...
SEC Asks Court for Stay on Overturned Merrill Rule
Although the ruling in Financial Planning Association v. SEC was set to go into effect today, the Securities and Exchange Commission (SEC) has filed a stay, asking for...
Bank of America Sued for Race Discrimination
Five black current and former employees of Bank of America Corp. filed a discrimination suit Thursday against the bank, alleging that it assigns its black employees to primarily...
SEC Won’t Challenge Broker Registration Ruling
The Securities and Exchange Commission has decided not to challenge a controversial court decision regarding broker registration.
Senate Bill Aims to Help Women with Retirement Planning
Legislation reintroduced into the U.S. Senate aims to prompt greater retirement planning for women.
Legislation Targets Employers Without Retirement Plans
Employers without retirement plans would be required to establish an automatic payroll deduction program to an individual retirement account (IRA) under new legislation.
Final Roth 401(k) Distribution Guidance Issued
Newly issued rules on the taxation of distributions from Roth 401(k) accounts keep many provisions of the proposed version of the regulations.
Edward Jones Customers Get Fair Fund Distribution
Current and former customers of Edward D. Jones&Co. customers who were “victims″ of the firm’s failure to adequately disclose revenue payments from a select group of mutual fund...
SEC Announces PBHG Fund Market-Timing Distribution
Mutual fund investors dinged by the fund trading scandal are getting ready to get some pay back.
Morgan Stanley Settles Gender Discrimination Suit for $46M
Morgan Stanley has agreed to pay $46 million to settle a gender bias lawsuit brought last June by thousands of female advisers.
DoL Requests Suggestions for 401(k) Fee Disclosures
The U.S. Department of Labor’s (DoL) Employee Benefits Security Administration will tomorrow publish a "request for information" (RFI) in the Federal Register asking for proposals on how to...
Alleged Dividend Embezzlement Scheme Leads to Arrest
A former corporate actions clerk at ING Financial Services was arrested Thursday on federal wire fraud charges for his part in an embezzlement scheme related to client dividend...