Judge Recommends Dropping Most of $4.2B Retirement Plan Suit Against Nestlé
A U.S. District Court judge sided with Nestlé’s motion to dismiss most of the claims in a 401(k) class action...
Compliance
DOL Finalizes Rule Opening Door to ESG Investing in Retirement Plans
The DOL announced a final rule that retirement plan fiduciaries can consider climate change and other ESG factors when selecting...
S&P Global Settles Mortgage-backed Security Case with SEC
Ratings agency agrees to $2.5 million fine over charges its sales and marketing team influenced analytics.
SEC Collects Record $6.44B On 760 Enforcement Actions in Fiscal 2022
The regulator raked in close to $4.2 billion in civil penalties, nearly three times the $1.46 billion collected the previous...
SECURE 2.0 Enjoys Widespread and Consistent Industry Support
Industry actors and interest groups continue to express enthusiastic support for SECURE 2.0 and support its passage in the coming...
DOL Hosts Public Hearing on QPAM Proposal
The commentators and DOL representatives had stark disagreements on the implications of some the proposal’s provisions.
Proposed Settlement Would Cost Juniper Networks $3 million
Juniper agreed to a proposed settlement dismissing allegations they mismanaged their sponsored retirement plan; judicial approval still required.
Applications and Implementation of The New Marketing Rule
Various leaders within the SEC discussed in a public seminar today some of the interpretations and applications of the new...
DOL Rejects ForUsAll’s ‘Tactical Retreat’ in Crypto Retirement Case
The DOL shot back at 401(k) provider ForUsAll’s offer to drop its suit if the court confirmed a DOL warning...
A Closer Look at the Emergency Savings Provisions in SECURE 2.0
Research shows ESAs can increase investment in retirement savings accounts, but Senate bills involved in SECURE 2.0 package contain different...
DOL: Plan Sponsors in PEPs Don’t Necessarily Need to Purchase Fidelity Bond
The department of labor clarified in a response letter some of the responsibility and costs that plan sponsors can offload...
ESG Industry Put on Notice by Congressional Republicans
ESG investment strategy and the businesses around it has been sharply criticized and challenged by Republican leaders on all levels...
A DOL ESG Investigation Story
An adviser’s message to his peers is to not fear including ESG factors in investment analysis.
IRS to Permit Determination and Termination Letters for 403(b) Plans
Beginning in June 2023, the IRS will allow 403(b) plans to apply for determination and termination letters, similar to 401(a)...
Midterm Election Results Could Delay SECURE 2.0
A shift in Congressional power in Washington to Republicans could delay passage of SECURE 2.0 and push Democrat's ESG and...
SEC Proposes Controversial Rule on Swing Pricing and Liquidity
The SEC proposed a new rule Wednesday that would require all open-ended funds, except money market funds and exchange-traded funds,...
PBGC Provides $32.7 Million to Struggling Bricklayers Pension
The Akron, Ohio-based multiemployer plan had been providing benefits to nearly 400 participants at below half the level it was...
SEC’s Proposed Outsourcing Rule Could Be Hardest on Small Advisers
The new rules, if approved, would likely require more catch-up by smaller firms to vet third-party providers, says a legal...
Adviser CEO Faces Up to 45 Years for Fraud, Keeping Employee 401(k) Contributions
Maddox Group’s Adam Belardino faces up to 45 years in prison for wire fraud and making false statements to the...
SECURE 2.0 Likely to Pass this Year
Three separate bills, dubbed SECURE 2.0 when taken together, are likely to be passed into law by this December, according...