On October 30, 2020, the U.S. Department of Labor (the “DOL”) released a Final Rule to “provide clear regulatory guideposts for fiduciaries of private-sector retirement and other employee benefit plans in light of recent...more
11/12/2020
/ Amended Regulation ,
Department of Labor (DOL) ,
Duty of Loyalty ,
Duty of Prudence ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary ,
Fiduciary Duty ,
Investors ,
Required Documentation ,
Retirement ,
Retirement Plan ,
Retirement Plan Providers ,
Section 404
In March 2020, I posted a blog reviewing the evolution of the legal analysis applied to a retirement plan’s holding of “employer securities” under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)......more
9/28/2020
/ Breach of Duty ,
Corporate Officers ,
Disclosure Requirements ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Insider Information ,
Insider Trading ,
Petition for Writ of Certiorari ,
Popular ,
Retirement Plan ,
Retirement Plan Providers ,
Securities Violations
The U.S. Department of Labor (the “DOL”) recently released an information letter that concludes, if certain conditions are met, a plan fiduciary will not violate his fiduciary duties under the Employee Retirement Income...more
7/16/2020
/ 401k ,
404(c) Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Information Letters ,
Investment ,
Investment Adviser ,
Investment Management ,
Private Equity ,
Private Equity Funds ,
Retirement Plan
“Employer securities” in retirement plans have been the source of a significant amount of litigation under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). In general, “employer securities” are...more
3/6/2020
/ Appeals ,
Breach of Duty ,
Corporate Officers ,
Dismissals ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Employee Stock Purchase Plans ,
ESOP ,
Failure To Disclose ,
Fiduciary Duty ,
FIfth Third Bancorp v Dudenhoeffer ,
Fraud ,
Inflated Projections ,
Insider Information ,
Misrepresentation ,
Plan Participants ,
Pleading Standards ,
Remand ,
Retirement Plans Committee of IBM v Jander ,
Reversal ,
SCOTUS ,
Securities Violations ,
Vacated
On April 23, 2018, the U.S. Department of Labor (the “DOL”) released Field Assistance Bulletin No. 2018-01 (“FAB 2018-01”) which provides guidance regarding (1) the exercise of shareholder rights and written statements of...more
On December 29, 2016, the U.S. Department of Labor (the “DOL”) released Interpretive Bulletin 2016-1 (“IB 2016-1”) relating to the voting of proxies on securities held in employee benefit plans. IB 2016-1 withdraws the...more
1/20/2017
/ Benefit Plan Sponsors ,
Defined Benefit Plans ,
Department of Labor (DOL) ,
Directed Trustees ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employee Stock Purchase Rights ,
Fiduciary Duty ,
Interpretive Opinions ,
Investment Management ,
Investment Policy Statements ,
Profit Sharing ,
Proxy Voting Guidelines ,
Qualified Benefit Plans