DOL Secures Prison Time for Two Florida ERISA Fraudsters
A pair of former executives of First Farmers Financial are being punished for their involvement in the sale of $179 million in fraudulent loans to a Milwaukee company...
Tag: EBSA
Judge Rejects Parts of DOL ESOP Expert Commentary in Fiduciary Breach Litigation
A complicated decision out of a Virginia district court weighs the merits of third-party expert commentary in ERISA litigation, in this case pertaining to an allegedly improper ESOP...
DOL Fiduciary Responsibilities Seminar to Be Held in NYC
The seminar will be held in Queens in New York City on May 17.
Rhode Island the Next Stop for DOL Fiduciary Seminar
The “Getting It Right – Know Your Fiduciary Responsibilities” seminar will be held in Providence, Rhode Island, on June 28.
Court Finds Pension Trustee Guilty of Embezzlement
The trustee is ordered to pay $234,271 in restitution, serve a year of probation and is barred from serving as a fiduciary to a benefit plan for 13...
DOL Announces Fiduciary Responsibilities Seminar in Louisiana
The event will be held in Metairie, Louisiana, on April 11.
Compliance News
Legislative and Judicial Actions
Rutledge Takes EBSA HelmThe Department of Labor (DOL) has appointed Preston Rutledge head of its Employee Benefits Security Administration (EBSA)....
Employee Gets Jail Time for Embezzling 401(k) Funds
A former office manager of New England Anesthesiologists, Inc. was found guilty of embezzling $120,313 in employee deferrals.
EBSA Restores $1.1B to Benefit Plans, Participants and Beneficiaries
Nearly $700 million was in recoveries from enforcement actions.
President Trump’s EBSA Nominee Wins Full Senate Approval
The Senate HELP Committee cleared Preston Rutledge’s nomination earlier in December; now the full Senate has approved his nomination to a post in which he will play a...
Senate HELP Committee Advances EBSA Nominee Rutledge
The advancement of President Trump’s nominee to serve as the Assistant Secretary of Labor for the Employee Benefits Security Administration might not grab mainstream media headlines, but it...
PANC 2017: Washington Update
Wagner Law Group attorney underscores: The fiduciary rule is in effect.
Hurricane Harvey Victims Get Relief from Regulators
The relief includes relaxed rules for hardships and loans and relaxed deadlines for filings and disclosures.
Indication of Second DOL Fiduciary Rule and BICE Delay Emerges
The Department of Labor and the White House have seemingly agreed to extend the applicability date of the full fiduciary rule and its accompanying exemptions by another year.
SIFMA Sends DOL Study About Fiduciary Rule Effects
The study suggests advisers have pared back products and services for retirement investors, and compliance with the fiduciary rule will be costly.
First Signs Emerge of DOL Fiduciary Rule Transition Extension
The DOL submitted a very brief document to a Minnesota district court apparently confirming the substantial development that it will seek to extend the fiduciary rule transition timetable.
Trustee Ordered to Sell Real Estate to Replay Plan
A federal district court ordered a profit-sharing plan trustee to sell personal real estate to meet restitution requirements, after the trustee failed to ensure proper diversification and liquidity...
EBSA Fraud Investigation Leads to Lengthy Prison Sentence
A Department of Labor investigation found evidence that $5 million, including retirement plan assets covered by ERISA, was inappropriately diverted and used to pay various business and personal...
Businessman Ordered to Pay Back ERISA Plan Involved in Ponzi Scheme
The ERISA plan invested roughly $1.9 million of plan assets from July 2010 through December 2011 in the investment company, Midwest Green Resources.