The affirmation once again shows how influential has been the Supreme Court’s 2014 decision known as Fifth Third v. Dudenhoeffer. It also presents an interpretation of how Fifth Third interacts with another significant SCOTUS decision known as Tibble v. Edison.
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 and will have more flexibility to provide information to investors.
The ERISA fiduciary duty requires fiduciaries to act with prudence, not prescience, a court said.
The SECURE Act and open MEPs are among topics explored by the PLANSPONSOR National Conference ‘Washington Update’ panel.
IBM asks the court to hear the case after an appeals court reverses the company’s district court win.
All eyes might be on the SEC’s pending vote on Regulation Best Interest, but ERISA attorneys with Stradley Ronon suggest New Jersey is now “the state to watch” for advisers and brokers tracking the development of conflict of interest regulations.
The text of the decision highlights that Federal Rule of Civil Procedure 15 provides that a court may permit a party to amend its pleadings “when justice so requires,” and absent special circumstances, such leave should be “freely given.”
During an exchange on Capitol Hill on Wednesday, the Democratic representative from Ohio pressed DOL Secretary Alexander Acosta for details on how the regulator is addressing advisory industry conflicts of interest.
The state’s former securities chief says recently issued fiduciary regulations have been crafted in the interest of aggressively tamping down on conflicts of interest in the financial services industry.
Plan fiduciaries have agreed to prohibit service providers from using data generated in serving the plan to market or sell unrelated products to Vanderbilt 403(b) plan participants.
The advisory firm of Slocum & Associates will not face class-action claims and has prevailed on some summary judgement arguments, but the ruling allows certain individual claims to proceed.
Beyond the issue of excessive compensation, the lawsuit questions the collection of “float interest” and asks whether BTG International permitted a provider to create a “captive market for 401(k) rollovers.”
The district court rules SafeWay’s dismissal motions conflate the principle that investment decisions should not be evaluated based on hindsight with the need to use historic information available at the time the decision was made.
Brokers who were happy to see a federal-level uniform fiduciary rule rejected by an appeals court last year may now be rethinking their stance as a patchwork of state-level rules comes to the fore.
The recordkeeping and investment firm has emphatically denied allegations leveled in multiple lawsuits suggesting it collects “secret payments” and “kickbacks” from external fund providers.
The parties dispute whether the plaintiff has standing to bring any ERISA claims based on a settlement agreement she entered, and, if she does, which claims could be permitted to proceed.
ERISA sets exacting standards when it comes to the treatment of retirement plan investments, but a new appellate court ruling underscores the fact that not all parties dealing with retirement plans generate fiduciary liability.
There are an abundance of lessons to be learned by examining the many twists and turns of Tussey vs. ABB, one of the original examples of retirement plan fee litigation filed under ERISA.
Out of five witnesses called before the House Subcommittee on Investor Protection, Entrepreneurship and Capital markets, just one spoke favorably about the SEC’s conflict of interest regulations—and his support was conditioned on the SEC taking further action in this area.
The question of what facts or actions create “actual knowledge” of alleged wrongdoing, recently tested in the 9th Circuit, are critical in ERISA litigation and play a key role when judges are asked to time-bar claims.