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Read need-to-know updates, commentary, and analysis on Securities issues written by leading professionals.

Pensions Hazard for PE Buyers on Carve-Out Deals

by Latham & Watkins LLP on

Corporate carve-outs have become increasingly popular in recent years, as buyout firms scour the market for primary deals. In an environment in which the UK Pensions Regulator (the Regulator) is becoming more active, in our...more

Avoid the headache: Stick to what you know

by Ary Rosenbaum on

Over the past 7 years as a solo ERISA practitioner, I always get asked if that’s all I do. It’s not some kind of insult, but a question on whether I also do financial advisory work and/or third party administration work. The...more

Plan Providers and Plan Sponsors Can Still Lose By Winning

by Ary Rosenbaum on

The news comes trickling in for 401(k) plan providers and plan sponsors beating back class action lawsuits. Many plan providers win their case as defendants because the plan participants fail to convince a judge that the...more

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #2 - Q&As on Annuity Sales Practices,...

by Carlton Fields on

Last month, we wrote about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This paper continues that discussion. I emphasize to the reader that...more

The Fiduciary Rule Status Update

by Carlton Fields on

On April 8, the Department of Labor published the so-called "Fiduciary Rule." It defines who is an employee benefit plan’s "fiduciary" for purposes of the Employee Retirement Income Security Act (ERISA) and the Internal...more

Don’t get out of your level of comfort

by Ary Rosenbaum on

I started this law firm about 17 years ago as a side project. It is where I could offer legal services on the side while I did my normal day job. It was an experiment on whether I could go out on my own and I learned during...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

P&G is banking on “a variation of America’s electoral arithmetic” as its best bet for keeping Trian’s Nelson Peltz away from its board. So . . . we’ll see him on there soon [?]....more

Grow your client’s plan assets

by Ary Rosenbaum on

If you’re a financial advisor, more assets under management equal more money. It’s pretty simple to me. So that means a financial advisor working in the 401(k) plan space should do their best to making sure that their Plans...more

Pick a Provider That Is Ahead of The Curve

by Ary Rosenbaum on

When it comes to plan sponsors in choosing providers for their retirement plan, I think one rule of thumb is to choose plan providers that are ahead of the curve. What do I mean by ahead of the curve? Retirement plan...more

Don’t Let Them Change You

by Ary Rosenbaum on

When I started my own National ERISA/ retirement plan law practice more than 7 years ago, it wasn’t easy. It still isn’t easy, but I could no longer see myself working for people who were either too arrogant or too blind to...more

Should Your 401(k) Plan Go Safe Harbor?

by Ary Rosenbaum on

December 1 is pretty quickly going to be upon us, which reminds me that I have some notices to send out shortly. For those in the retirement plan business, we know December 1 marks the date that safe harbor notices have to be...more

ERISA Newsletter - Third Quarter 2017

by Proskauer Rose LLP on

Editor's Overview - As we have observed on other occasions, the ERISA class action plaintiffs' bar has, for several years now, honed in on 401(k) plan fiduciaries and their decisions to select and retain investment options...more

Employee Benefits Developments - September 2017

by Hodgson Russ LLP on

Arbitration Clause in Employee Handbook Requires Participant to Arbitrate Fiduciary Breach Claims Against Investment Advisor - Cooper v. Ruane Cunniff & Goldfarb Inc. (S.D.N.Y. 2017) - In a major victory for an...more

Obama’s DOL Fiduciary Rule Fades into the Distance

by Bowditch & Dewey on

If you have an account in a retirement plan where you work or you own an Individual Retirement Account, you may get financial advice about the assets in your account from an investment advisor, broker, planner, or insurance...more

The New Supreme Court Term: Three Securities Cases

by Dorsey & Whitney LLP on

Three securities cases are on the docket as the new Supreme Court Term opens on the first Monday of October. A fourth significant action is pending certiorari....more

Using Funds From Only One Family Is An Awful Idea

by Ary Rosenbaum on

You must know about the shoemakers’ children and how they go barefoot and have no shoes. In the retirement plan industry, we have retirement plan providers and their employees’ retirement plan....more

Japan Legal Update - Volume 29 | September 2017

by Jones Day on

Corporate Governance - Tokyo Stock Exchange Introduces Disclosure System for Information about Advisors and Counselors - On August 2, 2017, the Tokyo Stock Exchange announced new amendments to the Guidelines for...more

DOL Settlement Agreement Provides ESOP Transaction Guidance

by Holland & Knight LLP on

• The U.S. Department of Labor (DOL) and First Bankers Trust Services Inc. (FBTS) have entered into a settlement agreement filed in U.S. District Court for the Southern District of New York, resolving a case challenging FBTS'...more

No joke: Gucci sued for “expensive” 401(k) plan

by Ary Rosenbaum on

When I think of Gucci, I think of a high-priced brand. Coincidentally or not, they are being accused of running a high-priced 401(k) plan. Selling high-priced leather goods is OK, running an expensive 401(k) plan is not....more

When Disaster Strikes: IRS Guidance Gives Employers Additional Options for Assisting Employees Hit by Hurricanes Harvey and Irma

by Foley & Lardner LLP on

When Hurricanes Harvey and Irma made landfall in Texas and Florida, they gave rise not only to widespread property damage, but to a humanitarian disaster as well. The massive storms have left scores dead and thousands...more

Surprise ISS Survey Results Reveal That Investors Intend to Use Pay Ratio Disclosures

Institutional Shareholder Services (ISS) released the results of its annual global benchmark voting policy survey on September 25, 2017. In a surprise result, the survey found that nearly 75 percent of the 131 investor...more

Relief for Hurricane Victims

by Ary Rosenbaum on

Thanks to the damage caused by Hurricane Harvey and Hurricane Irma, the Internal Revenue Service (IRS), Department of Labor (DOL), and the Pension Benefit Guaranty Corporation (PBGC) have granted extensions of certain...more

Corporate and Financial Weekly Digest - Volume XII, Issue 36

SEC/CORPORATE - Implementation of Pay Ratio Disclosure Requirement Not Expected to Be Delayed - On September 15, at the ABA Business Law Section Annual Meeting, the Securities and Exchange Commission (SEC) Division of...more

Stating The Obvious On Fees

by Ary Rosenbaum on

The 401k Averages Book is one of the great publications in the retirement plan business and I recommend it. I won’t recommend a report they just did because it was stating the obvious....more

The Trump threat to 401(k) and the reality of it

by Ary Rosenbaum on

When Donald Trump was elected President last November, there were quite a few people who promised gloom and doom as if it was the end of our republic. Despite the tweets and the drama, that really hasn’t panned out yet. Many...more

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