Compliance August 31st, 2023 May Climate Funds Be Used in DC Plan Menus? Yes, as long as they don’t come at the cost of participants’ investment outcomes, according to Wagner Law Group.
Compliance August 31st, 2023 Former American Airlines Pilot Fires Back in Retirement Plan ESG Suit The plaintiff doubles down on allegations the airline defaulted him into ESG-related funds.
Compliance August 30th, 2023 DOL Beats ForUsAll Crypto Suit A federal court ruled there was no legal basis for complaints challenging the DOL’s compliance bulletin cautioning use of cryptocurrency...
Compliance August 29th, 2023 Advisers: Roth Catch-Up Extension Welcome, Clarity Still Needed Retirement plan advisers were happy to tell plan sponsors about the two-year Roth catch-up extension. But the hard work isn’t...
Compliance August 29th, 2023 Wells Fargo Agrees to Pay $35 Million for Overcharging Advisory Accounts The registered investment adviser overbilled clients with custom rates by maintaining inadequate procedures, the SEC said.
Compliance August 26th, 2023 IRS Extends Roth Catch-up Contribution Deadline The IRS extended the requirement by two years to 2026 so that any catch-up contributions from higher income earners must...
Compliance August 21st, 2023 SEC Fines Fintech Advisory Titan in 1st Marketing Rule Charge The regulator calls the charges a ‘warning’ to investment advisers about how they can market offerings.
Compliance August 18th, 2023 State-Sponsored Retirement Plans Now Hold More Than $1B The pace of savings growth in state plans is accelerating, led by programs in California, Oregon and Illinois.
Compliance August 15th, 2023 Another BlackRock TDF ERISA Challenge is Dismissed An ERISA lawsuit alleging TDF underperformance by the asset manager for Cisco 401(k) participants has been dismissed.
Compliance August 15th, 2023 American Airlines ESG Lawsuit May Move Ahead, According to Court Filing A judge overseeing the complaint brought by a former pilot has set a potential trial date; the airline has said...
Compliance August 14th, 2023 Lawsuit Would Block Missouri’s Anti-ESG Advising Rule Requiring registered advisers to follow state-level ESG disclosure rules violates federal law, according to SIFMA’s lawsuit.
Compliance August 11th, 2023 Live Nation 401(k) Plan Escapes Class Suit, Moves to Arbitration A federal judge in California ruled for Live Nation in a motion to move the case to arbitration.
Compliance August 11th, 2023 DOL Seeks Comment on Select SECURE 2.0 Enactments From PEPs to emergency savings accounts, the DOL’s EBSA is welcoming input on changes and revisions to retirement plan administration.
Compliance August 11th, 2023 NYC Pension Funds File to Dismiss ESG-Related Lawsuit Attorneys are seeking to dismiss allegations that retirement funds were jeopardized due to divestment from securities of fossil fuel companies....
Compliance August 10th, 2023 ERISA Complaint Against AT&T Returned for Review by Appeals Court A complaint alleging AT&T’s benefits committee failed to properly report brokerage commission paid to Fidelity has been remanded back to...
Compliance August 9th, 2023 New SEC Cybersecurity Rule a ‘Business Problem,’ Not Just IT or Legal, According to Experts The new disclosure requirements for public companies will require time and resources to meet cybersecurity needs.
Compliance August 8th, 2023 New 401(k) Litigators Use ‘More Credible’ Tactics in First Half of ‘23 Euclid Fiduciary’s mid-year litigation report finds fewer filings, as plaintiff law firms catch up on ’22, but new entrants using...
Compliance August 8th, 2023 SEC Charges Wells, BNP, Others With Electronic Communications Misuse 11 Wall Street firms admit wrongdoing and agree to pay $289 million in fees for improperly using messaging systems like...
Compliance August 7th, 2023 Pension Risk Transfers in No Need of Overhaul, Insurance Executives Say Minor changes, such as requiring pensions to consider cybersecurity before selecting an annuity provider, could be positive, however.
Compliance August 7th, 2023 American Airlines Files Motion to Dismiss 401(k) ESG Complaint The airline argued the case should be dropped partly because the ESG funds in question were not in the 401(k)...