A draft bill from House Financial Services Chairman Spencer Bachus (R-Alabama) calls for SEC-registered advisers to be transitioned from SEC regulation to a self-regulatory organization (SRO).
The U.S. District Court for the District of Rhode Island has given a mixed ruling to participants alleging breaches of Employee Retirement Income Security Act (ERISA) fiduciary duties...
The U.S. Department of Labor’s Employee Benefit Security Administration (EBSA) is hosting a Webcast to discuss the final rule on improving the transparency of fees and expenses for...
The Internal Revenue Service has updated its list of entities approved to serve as nonbank trustees or custodians for certain tax-advantaged savings accounts.
Two New York insurance agent and broker groups appealed a judge's decision upholding a state regulation that requires producers to disclose incentive compensation.
The U.S. Department of Labor has sued trustees of a benefit fund for violating the Employee Retirement Income Security Act (ERISA) regarding loans issued from the fund.
The question of how broker/dealers (B/Ds) and registered investment advisers (RIAs) should be regulated will be discussed at a hearing on September 13 by a House of Representatives...
Taxpayers who unsuccessfully attempted to transfer amounts from their individual retirement accounts (IRAs) to a retirement plan based on incorrect advice from their financial adviser were granted 60...
A district court has denied participants’ request for attorneys’ fees in their attempt to sue their employer over the selection of funds in their 401(k) plan.
Last week, FINRA not only provided much-needed clarification on acceptable social media usage for financial advisers, but it also recognized social and mobile technology as a boon, not...
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have requested comments from the public to assist in conducting a joint study on stable...
The fiduciary exception to the attorney-client privilege rule extends to plan administration between an ERISA trustee and a plan attorney, the 4th U.S. Circuit Court of Appeals has...
PricewaterhouseCoopers (PwC) was unable to prove that its calculation of benefits for cash balance plan participants satisfied the Employee Retirement Income Security Act (ERISA), a court found.