Compliance

As part of an ongoing investigation, the Financial Industry Regulatory Authority (FINRA) has permanently barred a former registered representative with AXA Advisors, LLC, for conducting a Ponzi scheme.

A provision of the Savings Recovery Act of 2009 (H.R. 2021) would extend the suspension of required minimum distribution (RMD) requirements through 2012.

The Financial Industry Regulatory Authority (FINRA) said it fined five bank broker/dealers a total of $1.65 million for deficient supervision and procedures related to variable annuity (VA), mutual...

A federal appellate court has sent a 2008 rule governing fixed indexed annuities (FIAs) back to the U.S. Securities and Exchange Commission (SEC) that the court said was...

The U.S. Department of Labor (DoL) has provided transitional relief for administrators of 403(b) plans that make good faith efforts to transition for the 2009 plan year to...

A Minnesota state judge told both sides in the continuing dispute over the number of 403(b) vendors for the Winona (Minnesota) School District that she needs more time...

A Missouri broker who officials charge had improperly convinced investors to stop their 401(k) contributions and refinance their homes to make money available for unsuitable investments has been...

Recently the 7th Circuit responded to requests that it reconsider its opinion in the revenue-sharing/″excessive fee″ case of Hecker v. Deere.

The U.S. Department of Treasury has delivered proposed legislation to Congress that would strengthen the Securities and Exchange Commission's (SEC) authority.

The U.S. Senate has approved the nomination of Phyllis Borzi as assistant secretary of labor for the Department of Labor’s Employee Benefits Security Administration (EBSA).

A woman accused of stealing from a co-worker’s 401(k) account has been sentenced to a one-year jail term.

Wachovia Bank did not violate the Employee Retirement Income Security Act (ERISA) when it sent a form letter to investors notifying them of a fund's merger with another...

A former Goldman Sachs computer programmer was charged with stealing trade secrets based on the theft of computer codes used for automated stock and commodities trading.

Anheuser-Busch has been hit with a federal court lawsuit alleging the brewer and a trustee improperly designated an overly risky qualified default investment alternative (QDIA) for participants’ cash...

U.S. Supreme Court justices have agreed to consider an appeal of a case involving the method used by the Xerox Corp. pension plan to figure out how much...

The newest U.S. senator—Al Franken (D-Minnesota)—will help ponder significant reforms in both the pension and health care arenas when he formally takes his seat in the chamber.

A Texas state district judge approved the start of a claims process for Texans who invested with a Houston company accused of scamming retired teachers, state workers, and...

Florida Governor Charlie Crist signed into law legislation enhancing registration requirements for investment advisers, dealers, and other personnel.

It may be of little consolation to his victims, but a federal judge gave Bernard Madoff a sentence that should keep him behind bars for the rest of...

Staff investigators at the Securities and Exchange Commission (SEC) have announced their intention to get permission from commissioners to file civil charges against State Street Bank and Trust...