Latest News

Compliance

December 30, 2016

SEC Offers Guidance on DOL Fiduciary Rule Compliance

Since the DOL conflict of interest rule’s publication, mutual fund providers and their adviser-intermediaries have also been asking the SEC extensive questions about sales loads, fee schedules, etc. 

December 29, 2016

IRS Proposes New Mortality Tables for DB Plans

These proposals would also update the requirements a plan sponsor must meet to obtain IRS approval to use mortality tables specific to the plan for minimum funding purposes, instead of the generally applicable mortality tables.

December 29, 2016

DOL Offers New Guidance on Proxy Voting by Benefits Plans

The DOL says existing guidance to plan fiduciaries has been out of step with domestic and international trends in investment management, and has potential to dissuade fiduciaries from exercising shareholder rights, including the voting of proxies.

December 27, 2016

EBSA Seeks Damages from Money Purchase Plan

Two plan trustees are accused of breaching their fiduciary duties by failing to take action to recover funds owed to a money purchase plan, which was loaned in violation of ERISA.

December 27, 2016

Tax Reform Could Take Variety of Paths

“The Congress faces an array of policy choices as it confronts the challenges posed by the amount of federal debt held by the public—which has more than doubled relative to the size of the economy since 2007.”

December 22, 2016

Expect More Varied ERISA Litigation in 2017

Aside from traditional allegations of excessive fees and mismanagement of company stock, ERISA litigation in 2016 included challenges to fund types, fiduciary processes and provider arrangements; expect more to come.