Compliance

Securities fraud class actions decreased by 38% in 2006, falling from 178 filings in 2005 to just 110 in 2006 - the lowest ever recorded in a calendar...

On the last day of 2006, two more financial services firms announced settlements with regulators about their insurance business practices.

The US Attorney for the Western District of Tennessee has announced James Michael Foley, former Vice President of Sales for UnumProvident Corporation, pled guilty on Friday to fraud...

Federal regulators have turned to the public for comment on how to formulate guidance on “phased retirement″ in-service plan distributions as provided for by the Pension Protection Act...

You may think things are crazy this time of year in your office – and they may well seem that way. Advisers are human, after all, and advisory...

Facing a backlog of about 1,200 requests for Internal Revenue Service (IRS) determination letters on cash balance conversions, the agency announced Thursday that it had lifted a 1999...

Fidelity Investments has announced it will pay more than $42 million to its funds after a report issued by independent trustees of Fidelity’s board said some of its...

Deutsche Asset Management (DeAM) confirmed Thursday that it has settled proceedings with the Securities and Exchange Commission (SEC) and New York Attorney General Eliot Spitzer related to alleged...

Chubb Corporation announced on Thursday it will discontinue paying contingent commissions on all insurance lines in the United States beginning in 2007 as part of a settlement agreement...

The Internal Revenue Service (IRS) and Treasury Department have issued final regulations that provide guidance concerning prohibited allocations and disqualified person requirements under section 409(p) of the Internal...

The sponsor of a 401(k) plan for employees at an Illinois racetrack is suing Principal Financial Group for fiduciary breach over revenue sharing arrangements with mutual funds whose...

In a lawsuit filed earlier this month, New York Attorney General Eliot Spitzer’s office charges UBS Financial Services, Inc. with leading inappropriate clients into its InsightOne brokerage program...

A federal judge in New York has ruled in a lawsuit that Citigroup's cash balance plan is not “age neutral″ in the latest in a long line of...

Prudential Insurance Company of America has agreed as part of a lawsuit settlement over the use of contingent commissions that it will now disclose all broker compensation to...

Four Deere&Co. workers have sued Fidelity Investments over charges it levies unreasonable fees to manage the Deere 401(k) plan.

The Internal Revenue Service (IRS) issued Notice 2007-3 containing the 2006 Cumulative List of Changes in Plan Qualification Requirements for plan administrators to consider when submitting a request...

Under an agreement with New York State Attorney General Eliot Spitzer, Prudential Insurance Company of America will eliminate the payment of contingent commissions to brokers on group insurance...

A vote by the US Securities and Exchange Commission (SEC) this week is expected to start easing the accounting rules governing how closely small public companies have to...

Federal pension regulators on Friday announced a series of proposed changes to the 2008 Form 5500.

A federal judge in Chicago has certified as a class action a lawsuit against Aon Corp. over allegations 401(k) participants lost ten of millions of dollars when its...