Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
Spitzer: Lanny Breuer at DOJ Was a "Disaster"
Compliance Advice on SEC’s Market Access Rule from Julie Dixon of Titan Regulation
Lawyer: European M&A Could Rise Despite Risks
Bill on Bankruptcy: Complaint Claims Judge Is a Bigot
Ex-Kirkland Partner: Rainmakers Are Paid Too Much
Dewey's Bankruptcy Lawyer: More Large Law Firms Will Fail
Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk
License to travel: how regulation is benefiting business abroad
Greenberger: Derivatives Legislation Would Seriously Weaken Dodd-Frank
Bill on Bankruptcy: Lehman Test Case on Judicial Nullification
S&C's Cohen: Brown-Vitter Punishes Banks For Being Big
Cohen: Cyprus Is Not A Template For Future Restructurings
Release of new book on the 'Best Practices Under the FCPA and Bribery Act"
Buying and Selling Businesses in Today's Economy, Stephen Opler
Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock
Deloitte: Turnarounds and Democracy Don't Mix
Lessons Learned from the Parker Drilling DPA and Ralph Lauren NPA
Zimmermann: Up to 20% of AmLaw 200 "Badly Weakened"
Bill on Bankruptcy: Lawyers Easily Make Simple Words Complicated
The New Normal: Taking Responsibility for Your Vendors
Among the duties of a retirement plan fiduciary is the duty to monitor the administration of the plan and to assure that policies and procedures are in place to minimize the risk of errors and deficiencies. While monitoring...more
401(k) plans are a world of contradictions. It’s one of the few employer provided benefits that an employee usually pays for through their account balance. It’s a retirement plan that an employer offers that the employee has...more
The SEC has issued its second-ever whistleblower award. The award went to three anonymous individuals, each of whom will receive 5 percent of the monetary sanctions ultimately collected in a case against hedge fund manager...more
James Hazlehurst wrote an article published in The Daily Journal on June 12, 2013, that discussed the Ninth Circuit Court of Appeals ruling in Harris v. Amgen that limited the protections from liability for ERISA pension plan...more
Sponsors of 457(b) plans may receive questionnaires aimed at identifying noncompliance issues. On June 3, the Employee Plans Compliance Unit of the Internal Revenue Service (IRS) announced the creation of its Section...more
If you would like copies of an article that is not linked to a PDF file, or if you would like to receive copies of future articles, please contact Rebecca Sprunger at rsprunger@orrick.com. - 03-29-2013 (U.S.) Final...more
Section 4043 of the Employee Retirement Income Security Act of 1974 (ERISA) requires pension plan sponsors to report a variety of corporate and plan events to the Pension Benefit Guaranty Corporation (PBGC). In November...more
My colleague Jeff Cairns recently blogged about a proposed regulation of the Department of Labor (DOL) that will require employers to include on plan statements estimates of the lifetime annuity amount that a participant’s...more
This is the first in a recurring series of articles examining the Dodd-Frank Act and its implications for community banks. This quarter’s selection takes a closer look at reforms related to corporate governance...more
Recent decisions out of the Second and Ninth Circuits have increased the liability exposure of plan fiduciaries under the Employee Retirement Income Security Act (ERISA) where the retirement plan gives employees an option to...more
As an ERISA attorney with a national practice of plan sponsor and retirement plan provider clients around the country (cheap plug here), I hear many excuses as to why plan sponsors don’t want to take a look at their...more
On May 31, Judge John G. Koeltl of the United States District Court for the Southern District of New York granted in part and denied in part a motion to dismiss claims brought against U.S. Bank National Association (U.S....more
On June 4, 2013, the Ninth Circuit issued an opinion in Harris v. Amgen, reversing an order granting a motion to dismiss and reviving a class action ERISA lawsuit based on allegedly imprudent investments in company stock. In...more
There is a broad spectrum of pension de-risking options available to defined benefit (DB) plan sponsors and administrators. In this post (the second of a two-part series) I consider these options and some of the related legal...more
Topics we will cover: • Introduction • Issues with Control Groups • Issues with Prohibited Transactions • Fee Disclosure - Excerpt from Who is in the Control Group? • Aggregation Rules (Section...more
An increasing number of public and private sector employers around the world are either abandoning the traditional defined benefit (DB) pension plan model in favour of more affordable and sustainable alternative arrangements,...more
Firms that manage ERISA plan assets are subject to the US Department of Labor regulations on fee disclosures. In addition to the initial fee disclosure, these regulations require disclosure of changes to fee information...more
A recent federal court decision illustrates how “loan” arrangements between physicians and their employers, if not properly structured, may be treated as the payment of taxable compensation and the employers may be hit with...more
I am a fan of the original Highlander movie with Christopher Lambert and Sean Connery. The subsequent sequels and television series make the cannon of the series nonsensical, but I do love the original. Maybe it’s because of...more
In This Issue: - Taxpayer Relief Act of 2012 - Tax Planning for the “New Normal” - HIPAA: Not Just for Health Care - ADA Requirements for Pools - Impact of Dodd-Frank Swap Regulations on Loan Documents -...more
On the final argument day of the May term, the Illinois Supreme Court heard argument in Prazen v. Shoop, one of a brace of public employee pension cases currently on the Court's docket. ...more
On May 29, Patriot Coal (Patriot) became the third major debtor in the last year to receive court approval to modify union benefits or reject a CBA under sections 1113 and 1114 of the Bankruptcy Code....more
The Supreme Court has agreed to hear arguments in a case that could extend Sarbanes-Oxley Act (SOX) whistleblower protections to employees of private companies that contract with public companies. Lawson v. FMR, LLC, 133 S....more
In a 108-page post-trial order issued a few weeks ago, Vice Chancellor Leo E. Strine, Jr. dealt a major blow to the California Public Employees Retirement System (CalPERS), Senior Housing Capital, LLC v. SHP Senior Housing...more
One of the most important jobs in having clients as a retirement plan provider is retaining them and the fact is that happy clients rarely leave. Too often, plan providers lose clients over a lack of communication. As Led...more
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