The Delaware Court of Chancery invalidated a $55.8-billion payout by Tesla, Inc., to its founder and controlling stockholder, Elon Musk. In a 200-page post-trial decision, Chancellor McCormick stated Musk was required to...more
Summary -
The U.S. Supreme Court this week unanimously decided an ERISA fiduciary duty case, Hughes v. Northwestern University, which will impact dozens of similar cases currently pending against fiduciaries of section...more
1/27/2022
/ 401k ,
403(b) Plans ,
Breach of Duty ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Hughes v. Northwestern University ,
Plan Participants ,
Retirement Plan ,
SCOTUS ,
Tibble v Edison Int
The United States Department of Labor (DOL) has issued a new set of proposed regulations providing guidance to plan fiduciaries about investing plan assets in investment vehicles that have environmental, social, and/or...more
6/26/2020
/ 401k ,
Corporate Social Responsibility ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Investment Management ,
New Guidance ,
Proposed Regulation ,
Retirement Plan
Regulation BI, Form CRS, Adviser or Advisor, and Fiduciary Duties of Adviser -
In a flurry of proposed rulemaking that added up to more than 900 pages of reading material, the Securities and Exchange Commission (SEC)...more
7/5/2018
/ Best Interest Standard ,
Broker-Dealer ,
Choice of Entity ,
Conflicts of Interest ,
Disclosure Requirements ,
Fiduciary Duty ,
Financial Services Industry ,
Investment Adviser ,
Investment Management ,
Investment Products ,
Liquidity Risk Management Rule ,
Regulatory Oversight ,
Regulatory Requirements ,
Required Forms ,
Securities and Exchange Commission (SEC)
The Fifth Circuit on March 15 vacated U.S. Department of Labor (DOL) regulations that redefined the circumstances in which a person who provides investment advice in connection with a retirement plan or individual retirement...more
3/19/2018
/ Best Interest Contract Exemptions ,
Conflicts of Interest ,
Consumer Financial Products ,
Department of Labor (DOL) ,
Deregulation ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Services Industry ,
Investment Adviser ,
Investment Management ,
Regulatory Oversight ,
Regulatory Reform ,
Retirement Plan ,
Trump Administration ,
Vacated
A plaintiffs' class action law firm in St. Louis made national headlines last August when it filed a series of breach of fiduciary duty lawsuits under ERISA, the federal employee benefits law, against the fiduciaries of...more
5/15/2017
/ 401k ,
Breach of Duty ,
Class Action ,
Educational Institutions ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Investment Management ,
Mutual Funds ,
Retirement Plan ,
Transaction Fees
Several ERISA breach of fiduciary duty class actions involving allegedly excessive retirement plan fees were filed this week against higher education institutions including colleges, universities, and medical schools. The...more
8/12/2016
/ 403(b) Plans ,
Breach of Duty ,
Class Action ,
Colleges ,
Educational Institutions ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fees ,
Fiduciary Duty ,
Investment Management ,
Medical School ,
Retirement Plan ,
Universities
The U.S. Department of Labor (DOL) has finalized regulations describing the circumstances in which a person who provides investment advice in connection with a retirement plan or individual retirement arrangement (IRA) acts...more
The U. S. Department of Labor (DOL) has reissued long-awaited proposed regulations describing the circumstances in which a person who provides investment advice in connection with a retirement plan or individual retirement...more