DOL OIG Recommends Further ERISA Regulation of Service Provider Conflicts of Interest

more+
less-

In a report dated September 30, 2010, the U.S. Department of Labor’s (DOL) Office of Inspector General (OIG) recommended additional ERISA regulation of conflicts of interest on the part of service providers to retirement plans. The OIG recommendations were based primarily on the 2005 SEC “pension consultant” report, a review of DOL enforcement practices and policies, interviews with DOL and SEC officials, and a random sampling of DOL fiduciary audit files.

On the basis of that examination, OIG asserted that conflicts of interest on the part of service providers “are a concern in most ERISA covered pension plans,” and recommended that...

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Administrative Agency Updates, Finance & Banking Updates, Labor & Employment Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Sutherland Asbill & Brennan LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »