The legal standards for broker-dealer firms (BDs) and their representatives, particularly in the retirement market, continue to be in flux. BDs were among those most affected by the promulgation in 2016 of the Department of...more
As the 2017-2018 term of the US Supreme Court came to a close, a key tool relied on by the Department of Labor (DOL) in enforcement cases under the Employee Retirement Income Security Act of 1974, as amended (ERISA) was...more
On May 9, 2018, the principal regulators of US employee benefits published updates to their guidance plans for the coming months.
The US Department of Labor (DOL) published its Semi-Annual Regulatory Agenda, stating the...more
On April 23, 2018, the US Department of Labor (DOL) issued Field Assistance Bulletin (FAB) 2018-01 regarding proxy voting, shareholder engagement and economically targeted investments (ETIs) under the Employee Retirement...more
In Teufel v. Northern Trust Co. (April 11, 2018), the US Court of Appeals for the Seventh Circuit confirmed that a prospective change in the benefit formula for a defined benefit pension plan constituted neither an...more
4/17/2018
/ 401k ,
ADEA ,
Age Discrimination ,
Benefit Plan Sponsors ,
Cost-of-Living Adjustment (COLA) ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
IRS ,
Minimum Salary ,
Pension Plan Amendments ,
Plan Participants
The nationwide vacatur of the Department of Labor “investment advice” fiduciary definition and related exemptions by the US Court of Appeals for the Fifth Circuit on March 15, 2018, does not bring an end to the challenges...more
In 2017, the principal focus in the administration of the Employee Retirement Income Security Act of 1974, as amended (ERISA), by the Department of Labor (DOL) appropriately remained one of the extraordinary developments...more
2/14/2018
/ Best Interest Contract Exemptions ,
Criminal Investigations ,
Department of Labor (DOL) ,
EBSA ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Investment Adviser ,
IRS ,
MEWAs ,
Political Appointments ,
Prohibited Transactions ,
QPAM ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
Trump Administration
By a notice published in the Federal Register on November 29, 2017, the Department of Labor (DOL) extended from January 1, 2018, until July 1, 2019, the date for compliance with the full conditions in its new “investment...more
The Internal Revenue Service (IRS) has recently published updates to its guidance plans for the coming months.
- On October 20, 2017, the US Department of the Treasury and the IRS released their 2017-2018 Priority Guidance...more
On August 3, 2017, the Department of Labor (DOL) released a fourth set of FAQs related to its new “investment advice” fiduciary definition and related exemptions (Final Rule), which became applicable on June 9. Like the May ...more
With its announcements of May 22, 2017, starting with an op-ed in The Wall Street Journal, the Department of Labor confirmed that, absent last-minute action in the courts or by Congress, its new “investment advice” fiduciary...more
On April 4, 2017, the Department of Labor released its final rule postponing the applicability date of its new “investment advice” fiduciary definition and related exemptions. This extension, which was published in the April...more
With recent developments in all three branches of government bearing on the authority and timing of the new Department of Labor (DOL) final rule expanding the definition of fiduciary “investment advice” (the Final Rule) for...more
The United States Department of Labor (DOL) recently published its Fiscal Year 2016 “Fact Sheet” documenting the criminal and civil enforcement activities of its Employee Benefits Security Administration (EBSA) under the...more
The Department of Labor (DOL) has released two additional sets of FAQs providing guidance related to its final rule expanding the definition of fiduciary “investment advice” (the Final Rule) for purposes of the Employee...more
In 2016, the Department of Labor (DOL) continued a curtailed program of interpretive guidance under the Employment Retirement Income Security Act of 1974, as amended (ERISA). As has been the case for several years, the...more
The principal regulators of U.S. employee benefits have recently published updates to their guidance plans for the coming months.
On October 31, 2016, the U.S. Department of the Treasury and the Internal Revenue Service...more
The principal regulators of U.S. employee benefits have recently published updates to their guidance plans for the coming months.
..On August 15, 2016, the U.S. Department of the Treasury and the Internal Revenue Service...more
On July 7, 2016, DOL released technical corrections to its two new exemptions published in April 2016 in conjunction with the
Final Rule:
..The Best Interest Contract Exemption (BICE), now officially designated as...more
The principal regulators of U.S. employee benefits have recently published updates to their guidance plans for the coming months.
On May 18, 2016, the U.S. Department of Labor (DOL) updated its Semi-Annual Regulatory...more
The United States Department of Labor (DOL) recently published its Fiscal Year 2015 “Fact Sheet” documenting civil and criminal enforcement activities under the Employee Retirement Income Security Act of 1974 (ERISA)....more
The principal regulators of U.S. employee benefits have recently published updates to their guidance plans for the coming months.
On November 19, 2015, the U.S. Department of Labor (DOL) updated its Semi-Annual...more
In recent years, a number of states have explored the idea of establishing state-run retirement plans for private sector employees who do not have access to employer-sponsored retirement plans. The preemption concerns under...more
The principal regulators of U.S. employee benefits have recently published updates to their guidance plans for the coming months.
On May 21, 2015, the U.S. Department of Labor (DOL) updated its Semi-Annual Regulatory...more
As has been widely reported, the U.S. Department of Labor (DOL) on April 14 issued its proposal to expand the definition of investment advice fiduciary under the Employee Retirement Income Security Act (ERISA). DOL included...more