As the implementation date for the Department of Labor (DOL)’s Conflict of Interest rule approaches, Capital One Investing will be moving away from commission-based products within its retirement-account services.
Read more >
Edward Jones is being accused by another set of plaintiffs of favoring the investments of its “preferred partners” in its 401(k) plan, enriching the firm at the expense of performance.
Read more >
The latest ERISA lawsuit to be filed targets Xerox and Financial Engines for advice arrangements negotiated between the firms and several Ford Motor Company retirement plans.
Read more >
As part of an excessive fee lawsuit against Shell Oil, Fidelity was named as a defendant and accused of breaching its fiduciary duties by sharing participant data with affiliates for solicitation of other products.
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
