Compliance
Adviser Oversight Bill Is Critical
The bill is crucial to protect middle-class Americans who need the services of a financial adviser, the president of the Financial Services Institute (FSI) told Congress.
SEC’s Oversight of FINRA Could Be Better, GAO Says
The Government Accountability Office (GAO) pointed out that oversight of the Financial Industry Regulatory Authority (FINRA) by the Securities and Exchange Commission (SEC) has been mixed.
EBSA Schedules More Fiduciary Workshops
The Department of Labor’s Employee Benefits Security Administration (EBSA) has announced more workshops for retirement plan fiduciaries.
Clarity Needed for IRS Partial Annuity Rules
The American Benefits Council welcomes proposed regulations to Internal Revenue Code Section 417(e), on the treatment of benefits paid partially as an annuity and partially in another form...
ASPPA Asks for Roth Conversion Guidance
The American Society of Pension Professionals & Actuaries (ASPPA) has asked for additional guidance concerning Roth 401(k) accounts.
Chesapeake Energy Facing ERISA Investigation
A Los Angeles law firm has begun an investigation into the Chesapeake Energy Corporation Savings and Incentive Stock Bonus Plan.
Company Uses ‘Holistic’ Approach to Improve 401(k) Participation
Increasing 401(k) plan participation rates is high on many companies’ priority lists, but what are the most effective tactics?
DOL Frees Assets for 401(k) Plan
The Department of Labor appointed an independent fiduciary to manage the 401(k) plan of a now-defunct New Jersey company in the wake of a lawsuit.
Concerns Linger About DOL Fee Disclosure Guidance
Some advisers say certain issues did not make the FAQs about fee disclosure in the Department of Labor’s recently issued field assistance bulletin.
Increased Education May Help Reduce Retirement Plan Fees
A Government Accountability Office (GAO) review of retirement plan documents showed some sponsors face challenges in understanding the fees they and their participants are charged.
DOL’s Answer in Fee Disclosure Guidance ‘Surprising’
When reading Field Assistance Bulletin 2012-02, relating to participant fee disclosures, some industry experts are particularly surprised by the Department of Labor’s (DOL) response to Question 30.
JPMorgan Chase Sued for Retirement Plan Losses
A former JPMorgan Chase & Co. employee is suing the firm on behalf of retirement plan participants who lost money after the bank reported a $2 billion trading...
Target-Date Fund Investors Need Better Graphics and Data
Several Morningstar divisions sent a letter to the Securities and Exchange Commission (SEC) urging the regulator to require target-date series to provide more details on the investments.
DOL Recovers Retirement Plan Assets for Participants
Two companies settled lawsuits with the Department of Labor (DOL), agreeing to restore retirement assets to participants.
DOL Notes a Change to Recent Fee Disclosure Guidance
The Department of Labor’s Employee Benefits Security Administration made a technical correction to the recently released Field Assistance Bulletin No. 2012-02.
Fiduciary Liability Continues After Company Closing
Some retirement plan sponsors mistakenly believe their fiduciary liability ended when the company doors closed.
DOL Hits Hutcheson with ERISA Violation
The Department of Labor filed a complaint against Matthew Hutcheson of Eagle, Idaho, an independent fiduciary and plan trustee, for a violation of the Employee Retirement Income Security...
Fee Disclosure Guidance Provides 403(b)s Comfort
Recent fee disclosure guidance addresses some unanswered questions for 403(b) plans.
EBSA Hosts Fiduciary Seminars in Boston and NYC
The Department of Labor’s Employee Benefits Security Administration (EBSA) scheduled two “Getting it Right: Know Your Fiduciary Responsibilities” seminars.