DOL Sends New Adviser Fiduciary Rule to OMB for Review
The rule is expected to broaden when investment advice is considered fiduciary advice under ERISA.
Compliance
House Republicans Look to Repeal DOL Rule Permitting ESG in Retirement Plans
As the House of Representatives returned this week, it wasted no time proposing new bills targeting ESG investing.
Acting Secretary of Labor Su Under Pressure as DOL Prepares Fiduciary Proposal
Republicans introduced legislation targeting the controversial candidate, whose nomination has not been put to a vote.
SEC Charges 5 Advisory Firms for Custody Rule Violations
The rule violation announcement is the second the regulator has issued in a ‘targeted’ effort, even as it seeks public...
Employee Fiduciary LLC Calls On DOL to Improve 401(k) Fee Transparency
The small business retirement plan advisory provided three recommendations to improve participant fee awareness.
Republican Leaders Discourage 3(21) Fiduciary Rule Amendment
Updating the fiduciary rule remains a key area of focus for the Department of Labor, despite missing a published August...
Complying With SEC’s Hypothetical Performance Marketing Rules
Advisers should use a process that makes it tough to fall out of compliance, not look for ways to dodge...
Are You Ready for Class Action Health Care Plan Fee Litigation?
Joanne Roskey, a former DOL solicitor and current ERISA attorney, discusses how to prepare for the likely wave of litigation...
May Climate Funds Be Used in DC Plan Menus?
Yes, as long as they don’t come at the cost of participants’ investment outcomes, according to Wagner Law Group.
Former American Airlines Pilot Fires Back in Retirement Plan ESG Suit
The plaintiff doubles down on allegations the airline defaulted him into ESG-related funds.
DOL Beats ForUsAll Crypto Suit
A federal court ruled there was no legal basis for complaints challenging the DOL’s compliance bulletin cautioning use of cryptocurrency...
Advisers: Roth Catch-Up Extension Welcome, Clarity Still Needed
Retirement plan advisers were happy to tell plan sponsors about the two-year Roth catch-up extension. But the hard work isn’t...
Wells Fargo Agrees to Pay $35 Million for Overcharging Advisory Accounts
The registered investment adviser overbilled clients with custom rates by maintaining inadequate procedures, the SEC said.
IRS Extends Roth Catch-up Contribution Deadline
The IRS extended the requirement by two years to 2026 so that any catch-up contributions from higher income earners must...
SEC Fines Fintech Advisory Titan in 1st Marketing Rule Charge
The regulator calls the charges a ‘warning’ to investment advisers about how they can market offerings.
State-Sponsored Retirement Plans Now Hold More Than $1B
The pace of savings growth in state plans is accelerating, led by programs in California, Oregon and Illinois.
Another BlackRock TDF ERISA Challenge is Dismissed
An ERISA lawsuit alleging TDF underperformance by the asset manager for Cisco 401(k) participants has been dismissed.
American Airlines ESG Lawsuit May Move Ahead, According to Court Filing
A judge overseeing the complaint brought by a former pilot has set a potential trial date; the airline has said...
Lawsuit Would Block Missouri’s Anti-ESG Advising Rule
Requiring registered advisers to follow state-level ESG disclosure rules violates federal law, according to SIFMA’s lawsuit.
Live Nation 401(k) Plan Escapes Class Suit, Moves to Arbitration
A federal judge in California ruled for Live Nation in a motion to move the case to arbitration.