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Holland & Knight LLP

Department of Labor Releases New ERISA Fiduciary Rule

Holland & Knight LLP on

The U.S. Department of Labor (DOL) on April 23, 2024, issued the Retirement Security Rule (the Final Rule), which expands who qualifies as an investment advice fiduciary for purposes of the Employee Retirement Income Security...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit Revives Second Excessive Fee 401(k) Plan Litigation

Proskauer - Employee Benefits & Executive... on

On Friday, for the second week in a row, the Ninth Circuit reversed dismissal of a 401(k) plan excessive fee litigation challenging the offering of retail share classes of mutual funds instead of cheaper institutional share...more

Goodwin

Financial Services Weekly Roundup: The CFPB Digs Into “Seasoned” Qualified Mortgages

Goodwin on

In the News. The Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking to create a new category of “seasoned” qualified mortgages; the Securities and Exchange Commission’s (SEC) Office of...more

Faegre Drinker Biddle & Reath LLP

Best Interest Standard of Care for Advisors #15

Faegre Drinker Biddle & Reath LLP on

The SEC has issued its final Regulation Best Interest (Reg BI), Form CRS Rule, RIA Interpretation and Solely Incidental Interpretation. I am discussing the SEC’s guidance in a series of articles entitled “Best Interest...more

Steptoe & Johnson PLLC

Retirement Plans: The Fiduciary Landscape and Best Practices to Avoid Liability for Plan Investments

Steptoe & Johnson PLLC on

The landscape surrounding retirement plans maintained by institutions of higher education has been changing in recent years, although certain critical responsibilities that are imposed on plan sponsors have been in place...more

Proskauer - Employee Benefits & Executive...

First Round of Robo-Advisor Fee Litigation Goes to Record-Keepers

Proskauer - Employee Benefits & Executive... on

Since 2016, record keepers for large 401(k) plans have been defending litigation over investment advice provided by the Financial Engines investment advice algorithm. (This kind of arrangement is commonly referred to as...more

Polsinelli

Much-Anticipated Fiduciary Rule Presents New Challenges to Financial Services Industry

Polsinelli on

The U.S. Department of Labor released its long anticipated "fiduciary rule" on April 6, 2016. The rule requires brokers and financial advisers to put their clients' interests ahead of their own when recommending retirement...more

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