DOL Guidance Calls Proxy Advisers ‘Functional Fiduciaries’
The proxy advisory industry is under intensifying scrutiny from President Donald Trump’s administration.
Compliance
House Democrats Ask DOL Inspector General to Probe ERISA Advisory Council
More than a year has passed since the council last met; all past members’ terms have ended or have been terminated.
EBSA Lists Enforcement Priorities Ahead of Aronowitz Hearing
Sub-regulatory guidance will be the agency’s focus, rather than ‘regulating by enforcement.’
Unpacking the DOL ‘Safe Harbor’ for Alternative Investments
Courts are not required to treat the Department of Labor’s six-factor test for plan fiduciaries as anything more than one...
Cigna Loses Bid to Stay ERISA Case
A federal judge in Pennsylvania said the case’s outcome does not hinge on the Supreme Court ruling in a separate...
Mississippi Adopts State Auto-IRA, but Tennessee Changes Gears
Tennessee legislators instead advanced a substitute bill changing the focus to Trump Accounts.
USPS Opts for Unprecedented Halt of Pension Payments
The cash-strapped US Postal Service says its suspended contributions to the federal pension program ‘will not affect the benefits of...
SEC Names Securities Lawyer David Woodcock as Director of Enforcement
Woodcock will fill the role on May 4, with interim head Sam Waldon continuing to serve until then.
Former Morgan Stanley Advisers Ask for Class Certification in Deferred Pay Case
The years-long legal battle that has already drawn in the Department of Labor and shifted partly into arbitration.
DOL, SEC, IRS Face Further Cuts With Trump’s Fiscal 2027 Budget
The Department of Labor could lose one-fourth of its budget and more than 2,000 full-time employees.
DOL Issues Advice on Faith-Based Employers’ Retirement Plans
Many “church plans” are exempt from ERISA regulations but offer fewer legal protections for employees.
Weyerhaeuser PRT Complaint Dismissed, But Plaintiffs Could Refile
A district judge ruled the plaintiffs had standing, allowing them to amend and refile their pension risk transfer lawsuit.
BNY, Robinhood Selected by Treasury to Run Trump Accounts
So far the Department of the Treasury has not specified whether other firms will help set up or administer the...
Chicago Judge Greenlights ESOP Class Action Suit
The consulting firm West Monroe Partners is charged with shortchanging workers who cashed out of its defined contribution employee stock...
DOL Proposed Alts Rule Could Fuel Future ERISA Cases
The Department of Labor may help fiduciaries with its scenarios and test cases on including alternative investments in defined contribution plans,...
Defaulted Federal Student Loans Now Managed by US Treasury, Education Department
The total student loan portfolio is nearly $1.7 trillion and almost one-quarter of borrowers have defaulted.
DOL Releases ‘Safe Harbor’ Regulation for Alts in DC Plans
The much-anticipated safe harbor aims to reduce ‘regulatory burdens and litigation risk’ for the inclusion of private assets in defined...
How Retirement Fiduciaries Can Help Health Plan Fiduciaries
Advisers’ deep knowledge of the fiduciary process can aid employers making sense of new disclosures from pharmacy benefit managers.
Federal Judge Allows 401(k) Class Action Suit Against Southwest Airlines
Plaintiffs say the 401(k) plan invested in a large-cap growth strategy fund that lagged its benchmark and peer funds for...
FINRA Had Fewer Cases, More Settlement Money in 2025
Without one outsized fine, FINRA’s total fines in 2025 would have been 15% lower than the previous year, according to...