SEC Fiduciary Rule Meeting Fast Approaching
Wednesday’s the day. The Securities and Exchange Commission (SEC) will hold meetings on the “Sunshine Act,” the next step in developing its own version of…
Department of Labor
6 Easy Steps to Get Sued Over Your 401k Plan
As employee benefits lawyers, we spend a lot of time telling retirement plan sponsors how to follow the law and not get sued, audited, investigated,…
Cue 401k Freak-Out Over Fiduciary Rule Folly
We can’t blame The Wall Street Journal for its hot take on what all happened with the Fifth Circuit Court’s damning fiduciary decision. The paper’s excoriation…
Fiduciary Rule Vacated by Fifth Circuit Federal Court
The Fifth Circuit Court of Appeals struck down the Department of Labor’s fiduciary rule on Thursday, sending shock waves throughout the investment and retirement savings industries….
5 (Critical) Reasons for Fiduciary Liability Insurance
“Fiduciary liability insurance—isn’t every plan required to have that?” Actually, fiduciary liability insurance is not required, but it’s a question that reflects an all too…
Sloppy Scottrade Fiduciary Slip Completely Self-Inflicted
Regarding its ongoing drama with Spitzer mini-me William Galvin, a simple misstep might have done Scottrade in—and it most likely stemmed from a zeal to…
DOL Settles with ‘Fiduciary Firm’ Over $16 Million 401k Fraud
It would seem companies with “fiduciary” in their name or professional description have trouble understanding the word. On the heels of the alleged fraud from…
EBSA Recovers Over $1 Billion for Employee Retirement Benefits
EBSA had a busy year, recovering $682.3 million through investigations alone. When added to sums totaled through informal complaints, abandoned plans and other programs it…
Why SEC Fiduciary Rule Reg Sounds Right
The rollback of unnecessary regulation is reaping rewards, depending of course on one’s definition of unnecessary. We’re not crazy enough to argue against the DOL’s…
Senate Confirms Rutledge to Key Department of Labor Post
On Thursday, the full Senate confirmed Preston Rutledge to serve as Assistant Secretary for the Employee Benefits Security Administration. “Mr. Rutledge will have the important job…