Compliance September 7th, 2022 Judge Rejects Chamber’s Commentary in ERISA Suit The court rejects the defense’s motion to dismiss the case, but denies the U.S. Chamber of Commerce’s bid to submit...
Compliance September 6th, 2022 DOL Extends Comment Period, Sets Hearing on QPAM Exemption Amendment The complexity of the proposed reforms to the qualified professional asset manager exemption has given some experts pause.
Compliance September 6th, 2022 DOL Sues Couple, Alleges They Lost Millions in Profit-Sharing Plan A prominent New Jersey couple faces allegations that they invested plan assets in companies in which they had significant financial...
Compliance September 2nd, 2022 DOL Updates Guidance on Audit Independence Rules Labor Department leadership says the update is designed to expand retirement plans’ access to highly qualified auditors and audit firms.
Compliance September 1st, 2022 District Court Rejects Cross-Selling Claims in Mixed ERISA Ruling Much of the ruling sides with plaintiffs and permits the case to move to discovery, but the defendants successfully defeat...
Compliance August 31st, 2022 Union Pension in Puerto Rico Latest to Receive PBGC Relief With its latest relief payment, the Pension Benefit Guaranty Corporation has now distributed more than $7.5 billion to stressed union...
Compliance August 30th, 2022 Plaintiffs Say 401(k) Plan Omitted Target-Date Funds Among Problems The target of a new Employee Retirement Income Security Act is a plan sponsor with more than 20,000 participants that ‘periodically’ reviewed the plan’s investment options to ensure...
Compliance August 25th, 2022 Plaintiffs Allege AME Church Plan Agreed to ERISA Status The consolidated class action complaint suggests the church plan at issue is an ERISA plan because the summary plan document...
Compliance August 22nd, 2022 Global Insurance Firm Latest to Face ERISA Litigation The plaintiffs claim familiar allegations pertaining to excessive recordkeeping and administrative fees.
Compliance August 19th, 2022 Marmon Holdings Faces Latest Capozzi Adler Complaint As in many prior ERISA cases, the plaintiffs allege their DC plan fiduciaries breached their duties by failing to adequately...
Compliance August 19th, 2022 SEC, CFTC Propose New Private Fund Industry Reporting Changes Regulators cite the increased complexity of the private fund industry and rapid growth for need to amend confidential filing rules.
Compliance August 18th, 2022 7th Circuit Issues Key Stock Drop Decision in Boeing Max Case One expert attorney says the decision has particular importance to plan sponsors and fiduciaries who have employer stock as an...
Compliance August 18th, 2022 IRS Private Letter Ruling Addresses DB-to-DC Asset Transfer While it applies only to the immediate case, the IRS’ approval of a transfer of excess assets from a terminating...
Compliance August 17th, 2022 Plaintiffs Firms Must Pay $1.5 Million for ‘Reckless’ Litigation A judge has determined that two law firms, Schneider Wallace Cottrell Konecky LLP and Schlichter Bogard & Denton LLP, are...
Compliance August 17th, 2022 SEC Flexes Regulatory Muscle with RIAs, Brokers in Focus The SEC is warning advisers and broker/dealers that it is time to tighten up policies around conflicts of interest and...
Compliance August 16th, 2022 Dover Corporation Faces ERISA Suit Over Managed Account Fees The proposed class action lawsuit challenges excessive managed account fees and the retention of Financial Engines, the managed account service...
Compliance August 15th, 2022 L Brands Settles ERISA Suit After Dismissal Motions Fail The plaintiffs in the case alleged various plan fiduciaries breached their duties under ERISA by allowing the payment of excessive...
Compliance August 15th, 2022 More TDF Underperformance ERISA Lawsuits Filed The new cases closely resemble a host of others filed in recent months that suggest fiduciary defendants selected underperforming target-date...
Compliance August 11th, 2022 Lawsuit Against Northern Trust Over TDFs Will Proceed The defendants’ motion to dismiss has been denied.
Compliance August 9th, 2022 DOL Announces Fiduciary Responsibilities Seminar in Dallas The agency says compliance can be challenging for small and medium-sized employers who have limited time, resources and access to professional help.