Managed Accounts’ Default Use Limited by Litigation Fears, Fees
Plan advisers continue to pick TDFs in retirement plans, rather than more personalized managed accounts, in part due to legal...
Tag: litigation
MOVEit Hack a Lesson as Digital Threats Increase
Experts say the incident revealed how to combat the stealing and selling of personal data, but participants remain vulnerable to...
Twitter Hit With $500M Suit for Unpaid Severance
The proposed class action alleges Elon Musk promised to abide by the firm’s severance plan but did not follow through.
Latest Decision in Hughes v. Northwestern Opens Door to More ERISA Litigation
In reviewing a 2022 case remanded by the Supreme Court, the 7th Circuit Court of Appeals allowed two of the...
Adviser NFP Absolved in ERISA Case; Molina Healthcare and flexPATH Still Face Charges
The plaintiffs in a suit against plan sponsor Molina Healthcare had sought to include advisory NFP for recommending “untested” TDFs....
Motion to Dismiss Filed in ERISA Lawsuit
Management and information consulting firm Booz Allen Hamilton has asked the court to dismiss the claims against it.
SEC Charges 16 Firms With Failing to Preserve Electronic Communications
The firms have admitted to the wrongdoing and will pay penalties of more than $1.1 billion.
Broker/Dealer Charged in First SEC Reg BI Case
The SEC says Western International Securities failed to act in the best interest of customers when the firm allegedly sold...
Schwab’s Robo SEC Settlement Highlights Disclosure Pitfalls
In addition to a monetary settlement, three Charles Schwab investment adviser subsidiaries have agreed to retain an independent consultant to...
SEC Enforcement Approach Imperiled by 5th Circuit
While the ultimate outcome may be settled by the Supreme Court, the 5th Circuit’s ruling in Jarkesy v. SEC could...
Excessive Fee Lawsuits Expected to Continue to Rain Down on Plans
Settlements have totaled more than $1 billion, making insurers think twice about new fiduciary insurance policies.
Home Depot ERISA Lawsuit Clears Dismissal Motions
While a court has ruled the plan’s advisers should be carved out of the litigation, the counts against Home Depot fiduciaries will proceed.
SS&C Advent Faces Second Licensing Lawsuit
Echoing claims in an earlier suit filed by SEI, Arcesium is accusing SS&C Advent of abusive and anti-competitive licensing practices.
Licensing Lawsuit Filed by SEI Global against SS&C Defendants
The complaint alleging abusive licensing practices was filed under seal in the U.S. District Court for the Eastern District of Pennsylvania and has only just been made public.
Editor’s Letter
No ‘Yes’ Men (or Women)
For 2019, maybe it’s a good idea to put fiduciary training on the committee calendar.
Intro
Par Excellence
Celebrating the 2018 PLANSPONSOR Retirement Plan Adviser of the Year finalists and winners