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Retirement Industry People Moves
Aegon Asset Management names EM debt leader; a new chief marketing officer joins Jennison Associates; Gallagher appoints a consultant to retirement plan leader; and more.
SunTrust Bank 401(k) Litigation Heading to Remediation
After years of litigation, the plaintiffs and defendants have jointly moved for entry of an order referring the case to mediation before a neutral third party.
Investment Product and Service Launches
Timeline partners with Morningstar aggregation service; Watchdog Capital introduces securities platform; Principal Global Investors creates combined emerging markets fixed income team; and more.
EBSA Reorganization May Bring Positive Changes
Industry sources speculate that the DOL's new structure for its Employee Benefits Security Administration will result in more guidance and fairer enforcement.
Retirement Industry People Moves
Cohen & Steers Creates Global Distribution Role; Voya Announces Hires in Retirement Strategic Growth Team; Heitman Selects Investment Executive to DC Practice; and more.
Jumbo Imprudence Alleged in H.E. Butt ERISA Challenge
Plaintiffs says defendants failed to properly monitor and control the plan’s expenses, and allowed the plan to become one of the most expensive “jumbo” 401(k) plans in the...
Retirement Industry People Moves
Capital One acquires wealth management software company; Millennium Trust names first chief growth officer; Principal Global Investors hires CEO for Principal Funds; and more.
Retirement Industry People Moves
BPAS names employees to sales roles; Texan Wealth Management firm joins CAPTRUST; Voya Retirement announces regional VP hires; and more.
LPL Includes Wealthbox CRM in Vendor Affinity Program
The program’s aim is to help advisers streamline their practices.
Compliance News
Legislative and Judicial Actions
FINRA Share-Class Sweep Highlights Importance of CooperationThe Financial Industry Regulatory Authority (FINRA) announced the final results of its mutual fund waiver initiative—the agency’s aggressive multiyear effort to ensure...
Retirement Industry People Moves
Franklin Templeton Adds National DC Consultant; Schroders Grows West Coat Presence with Two Hires; Voya Hires Regional VP of Sales; and more.
HSAs, FSAs and HRAs: Get to Know the Health Savings Alphabet
The account types differ quite a lot. Some require same-year spending, most are owned by the employer, and one comes with a triple tax advantage.
Industry Groups Object to Massachusetts Fiduciary Proposal
The Financial Services Institute and the Insured Retirement Institute have both published open letters opining against ambitious conflict of interest regulations proposed in the state.
Retirement Industry People Moves
T. Rowe Price adds senior DC adviser strategist; GW&K introduces New VP for Global Equity; Eagle Asset Management names portfolio manager for active equity strategies; and more.
SunTrust Wins Narrow Summary Judgement in Long-Running ERISA Suit
A federal court has rejected the argument that defendants were aware that their predecessor fiduciaries had breached their duties in selecting affiliated funds and thus that they breached...
Industry Demands Delay of New Jersey Fiduciary Regs, Deference to SEC
Advocacy and lobbying organizations representing the interests of brokers/dealers and investment advisers operating in New Jersey continue to voice their disapproval of the proposed regulations.
Retirement Industry People Moves
AIG Life and Retirement adds new CEOs; Northern Trust hires business development executive to lead private capital administration; CRI incorporates TPA services to company team; and more.
Newly Allowed 401(k)s Will Need Advisers
Advisers may shy away from helping hemp and CBD companies with their 401(k)s because they may find themselves crossing into advising for a cannabis company as well, but...
An Important Point About Form CRS and SEC’s Reg BI
Under the SEC’s final regulations, Form CRS requires less prescribed wording relative to the proposed version, meaning firms may generally use their own wording to address required topics...