Investment Management Update - January 2015
Investment Management Update – Fees and Expenses
Following the U.S. Supreme Court's decision in Hughes v. Northwestern University, courts around the country continue to articulate the pleading requirements for a breach of duty of prudence claim under the Employee Retirement...more
Most of the Federal Trade Commission’s (FTC) law enforcement actions involving payment processors have exclusively focused on allegations that processors did not do sufficient due diligence before onboarding questionable...more
Federal Reserve Considers Merits of Creating a U.S. Dollar Digital Currency The Federal Reserve has published a discussion paper that examines the pros and cons associated with the creation of a U.S. central bank digital...more
Federal Court in New York Dismisses Claims Against PPP Lenders for Agent Fees - A federal court in New York has dismissed claims made in six class action lawsuits against several banks and other Small Business...more
I. INTRODUCTION AND SUMMARY - The Securities and Exchange Commission (SEC) has proposed a bold new approach to shareholder and investor communications by investment companies registered on Form N-1A under the Investment...more
California’s legislative season is in full swing, and the California State Assembly and State Senate are advancing bills that will affect the food, beverage, and hospitality industry, with a focus on the restaurant industry. ...more
Pepper Hamilton’s Julia D. Corelli and PEF Services’ Anne Anquillare and Mark Heil, joined Pepper’s Gregory J. Nowak for his monthly webinar which he hosts for West LegalEdcenter. This month the webinar discussed a recent...more
Pepper Hamilton LLP, a multi-practice law firm that represents private equity clients throughout the life cycle of an investment fund, recently partnered with PEF Services and PEI to conduct a survey of 104 U.S. alternative...more
I remember as a kid that there was move to use margarine because of the cholesterol that was in butter. Who can forget those talking Parkay carton commercials? Of course, we later learn that many margarines had high amounts...more
A federal district court in Iowa dismissed a putative class action complaint brought by several 401(k) plan sponsors who alleged that Principal Life Insurance Company breached its fiduciary duties to the plans by charging...more
Nasdaq has adopted amendments to its fee structure and fee rates for companies with securities listed on the Nasdaq Global Select, Global and Capital Markets. The amendments create a new all-inclusive annual listing fee...more
The Federal Deposit Insurance Corporation (FDIC) reached a $16 million deal with a Utah bank recently, settling charges that the financial institution engaged in unfair and deceptive acts and practices. ...more
Out-of-state bank fees are permitted under federal law, the Eleventh U.S. Circuit Court of Appeals recently concluded. A pair of Florida customers – Derek Pereira and Camila De Freitas – presented checks at a Florida...more
Two years ago, I had the worst call with a prospective client in the 14 years I have been an ERISA attorney. Without divulging any information about this prospective client, this 401(k) plan sponsor was like many...more