N.Y. Insurance Broker Groups Appeal Compensation Ruling
Two New York insurance agent and broker groups appealed a judge's decision upholding a state regulation that requires producers to disclose incentive compensation.
Tag: Lawsuits
IMHO: “Smoke” Signals
Plan sponsors spend a lot of time wondering—and worrying—about the “right” way to do things.
NY State Fund Sues BofA, Merrill
New York state Comptroller Thomas DiNapoli has filed separate suits against Bank of America (BofA) and its Merrill Lynch unit for losses connected with BofA’s purchase of Merrill...
Canadian Couple Charged with Tweet-touting Fraudulent Penny Stocks
The Securities and Exchange Commission (SEC) has obtained an emergency asset freeze against two Canadians who advertised fraudulent penny stocks online.
NM Fund Ponders Aldus Lawsuit
The New Mexico Educational Retirement Board has hired two law firms to represent the teachers’ pension fund in a planned lawsuit against a Dallas money management firm.
Stock Drop Settlement on the Table for Boston Scientific
There’s a potential settlement in sight for participants in a 401(k) stock drop suit.
investment-oriented
Hard to Fit
Despite interest by clients, ETFs are not a slam dunk in retirement plans
SEC Announces Distribution of Prudential Market-Timing Settlement
The Securities and Exchange Commission (SEC) has announced a distribution of nearly $185 million to more than 800 mutual funds that were affected by illegal market timing by...
Securities Class Actions on the Rise
The value and number of securities class-action settlements increased in 2009 from 2008, according to "Securities Class Action Settlements: 2009 Review and Analysis," an annual report by Cornerstone...
cover story
The Path Ahead
Plan sponsors want more fee disclosure, and regulators will likely require it soon. That is both a threat and an opportunity for advisers.
Wells Fargo Agrees to $1.4M Buyback of ARS
California Attorney General Edmund G. Brown Jr. announced a $1.4-billion settlement with three Wells Fargo affiliates to pay back investors, charities, and small businesses that purchased auction-rate securities...
SEC Hits Schwab with Wells Notice over Bond Funds
Charles Schwab has been notified by the U.S. Securities and Exchange Commission (SEC) that it could be the target of an SEC civil suit.
Madoff Victims Sue SEC
Two investors are pointing their fingers at the U.S. government for failing to stop Bernard Madoff’s giant Ponzi scheme.
Failed Bank Slammed with Eight Stock-Drop Actions
Colonial Bank, a now-defunct Alabama bank company, has been hit with eight stock-drop suits over losses suffered by its pension plan when the bank was seized by regulators,...
IMHO: When You Assume…
Somewhere in the course of your professional life, you have no doubt heard (or used) the expression about what happens when you assume1.
IMHO: Domino Theories
If you want to get a quick sense of just how fast time flies, consider that it was only a year ago this week that Lehman Brothers filed...
Judge Rejects Free Speech Shield for Credit Raters
A federal judge in New York has rebuffed efforts by two credit rating agencies to seek constitutional free speech protection for their evaluations of securities instruments.
ICI Urges Court to Stick with Traditional Critique of Fund Fees
The Investment Company Institute (ICI) is pushing the U.S. Supreme Court to stick with the established legal framework when evaluating claims that a mutual fund’s investment adviser has...
Judge Consolidates Reserve Primary Fund Lawsuits
A federal judge on Wednesday combined 12 lawsuits over the failed Reserve Primary Fund, Reuters reported.