The DOL’s Fiduciary Race Ahead of 2021
There is precious little time remaining for the proposal and adoption of any new advisory industry conflict of interest rules that the DOL hopes to make effective during...
Tag: Fiduciary
Rare ‘Doe Pleading’ Allowed in ERISA ESOP Valuation Lawsuit
As a general rule, “Doe pleading” is disfavored in federal court. However, the practice is not entirely forbidden, particularly where the identities of alleged defendants are unknown.
New York Trial Court Endorses Fiduciary Standard for Insurance Sales
New York’s expanded “best interest” standard took effect on August 1st for annuity contracts and will take effect February 1, 2020, for life insurance policies. In a new...
Competitors PCS and Aspire Combine in Latest Recordkeeper Acquisition
PCS and Aspire, both founded nearly two decades ago with the common goal of providing specialized services to investment fiduciaries, will join together to achieve the benefits of...
Compliance Consult
Now Who Is a Fiduciary?
How the SEC's best interest rule could affect plans, IRAs
A DOL Secretary Scalia Would Quickly Find Direction
Having served as the DOL Solicitor General under the Bush Administration, experts suggest, Eugene Scalia would likely hit the ground...
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.
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.
Plaintiffs’ Attorney in Thole v. U.S. Bank Predicts Victory in Supreme Court
The Supreme Court will weigh in on the question of whether an adequately funded pension that is not in immediate danger of insolvency could have wronged participants and...
The Case That Almost Demolished the Retirement Plan Regulatory System
Expert ERISA attorneys have been eagerly awaiting the Supreme Court’s decision in a case called Kisor v. Wilkie. The complicated ruling issued Wednesday is the most significant of the...
Fog Still Hangs Over Defunct DOL Fiduciary Rule’s Influence
By the time the 5th Circuit vacated the DOL fiduciary rule expansion last year, advisory and brokerage firms had spent many millions of dollars to comply with the...
8th Circuit Sides with Defense in Stock Drop Appeal
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...
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...
Process Protects Fiduciaries in Sequia Fund Performance Lawsuit
The ERISA fiduciary duty requires fiduciaries to act with prudence, not prescience, a court said.
Tracking SECURE Act, RESA, DOL Developments and More
The SECURE Act and open MEPs are among topics explored by the PLANSPONSOR National Conference ‘Washington Update’ panel.
Supreme Court to Hear IBM Stock-Drop Case
IBM asks the court to hear the case after an appeals court reverses the company’s district court win.
Two Weeks Left to Comment on N.J. Fiduciary Rule
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”...
Neuberger Berman ERISA Complainants Get Another Chance
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...
Rep. Fudge Grills DOL Secretary on Fiduciary Rule Foot-Dragging
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...