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Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Whistleblowers Now Actually Have to Report to The SEC For Dodd-Frank Protection

by Hinshaw & Culbertson LLP on

On February 21, 2018, the U.S. Supreme Court ruled that provisions of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act that protect whistleblowers from being fired, demoted, or harassed by their employers...more

Third Circuit Analyzes Standing for ERISA Plan Management Claims

A recent Third Circuit decision reinforced the need for ERISA plaintiffs to plead injury-in-fact to establish Article III standing. In Krauter v. Siemens Corp., No. 17-1662, 2018 WL 921542 (3d Cir. Feb. 16, 2018), the...more

That Fiduciary Warranty Is Not Worth The Paper it’s Printed On

by Ary Rosenbaum on

A 401(k) plan sponsor is also a plan fiduciary and they have the responsibility to prudently run their plan. One major issue for a plan sponsor to figure out is which plan providers will mitigate some of their liability by...more

Multiemployer Pension Underfunding: How to Protect Your Company

by Perkins Coie on

As a result of a declining union workforce, bankruptcies of employers contributing to multiemployer pension plans (MEPPs), and tax rules that prevented MEPPs from developing sufficient reserves, many MEPPs have become...more

Third Circuit Deepens Circuit Split Over Test for “Top Hat” Status Under ERISA

A Third Circuit decision, Sikora v. UPMC, 876 F.3d 110 (3d Cir. 2017), deepens a circuit split over whether a participant’s bargaining power is relevant to determining whether a plan qualifies for “top hat” status under...more

LATIN AMERICA & THE CARIBBEAN: A Legal Guide for Business Investment and Expansion - Argentina

1. What role does the government of Argentina play in approving and regulating foreign direct investment? Argentina’s government has issued general regulations regarding foreign investment, and has, in general, allowed the...more

Massive Budget Deal Includes Important Changes To Hardship Withdrawal Rules

by Seyfarth Shaw LLP on

On Friday, February 9, 2018, the Bipartisan Budget Act of 2018 (the “Act”) was signed into law by President Trump, ending a brief government shutdown that began at 12:01 a.m. on Thursday, February 8, 2018. In addition to...more

Recent Legislation Impacts Qualified Retirement Plans

by Sherman & Howard L.L.C. on

On February 9, 2018, Congress passed and the President signed – the Bipartisan Budget Act of 2018, H.R.1892 (“BBA”). In addition to funding the federal government through March 23, 2018, the BBA contains a number of tax...more

Gov. Brown’s Executive Order Suspends Certain Retired Annuitant Employment Requirements - Modifications Needed for Disaster...

by Best Best & Krieger LLP on

To ensure adequate staffing levels while responding to recent natural disasters in California, the California Public Employees’ Retirement System has modified the 960-hour limitation related to retired annuitants employed in...more

Never leave a bad taste in the mouth of the one who brings you business

by Ary Rosenbaum on

I was working with an advisor recently, who had issues with one of those third party administrators (TPAs) I warn people about. Yeah, you know the folks who do payroll as are TPAs on the side....more

Get that late 5500 Filed

by Ary Rosenbaum on

I used to have this recurring dream that I was back in college and it was my last semester. The dream was that there was this one class that I didn’t attend all semester and the finals were around the corner. Someone pointe...more

Federal Budget Deal Includes Changes to Retirement Provisions

by Robinson & Cole LLP on

The Bipartisan Budget Act of 2018 (Act) was approved by Congress and signed into law by the President on February 9, 2018. Included in the Act are certain provisions impacting retirement plans that were initially considered...more

Hardship Distribution Changes – Tax Reform May Have Unintended Consequences

by Snell & Wilmer on

When tax reform proposals were floating around in the fall of 2017, several early proposals to the Tax Cuts and Jobs Act (the “Act”) included changes to the hardship distribution rules for qualified retirement plans. However,...more

The Word On The Street On What 401(k) Plan Sponsors May Need

by Ary Rosenbaum on

The greatest thing about the Internet is the distribution of information that people used to have to rely on an Encyclopedia or other reference materials to find out information on a specific topic. This is so true of...more

First State Charges Broker-Dealer in Connection with Violations of DOL Fiduciary Rule

On February 15, 2018, the Enforcement Section of the Massachusetts Securities Division (the “Division”) of the Office of the Secretary of the Commonwealth charged a registered broker-dealer (the “Broker-Dealer”) that operated...more

S.D.N.Y Dismisses Dodd-Frank Whistleblower Action

On February 5, 2018, U.S. District Court for the Southern District of New York granted Defendant Khan Funds Management America, Inc.’s Rule 12(b)(6) motion to dismiss a whistleblower retaliation claim under Dodd-Frank on the...more

An Annual Retirement Plan “Check-Up” May be Just What the Doctor Ordered!

by Foley & Lardner LLP on

February is Heart Health Month, which always reminds me to schedule my annual doctor checkup. This got me thinking that the need for ongoing “checkups” and maintenance applies not just to our health, but to our homes, cars,...more

Hardship Provisions Will Change

by Ary Rosenbaum on

As part of the budget agreement signed By President trump on February 9, some additional provisions have been added including changes to the hardship provisions for retirement plans....more

2017 in Review: ERISA guidance and enforcement

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

Defined Contribution Plans in the US and the UK: Lessons From Across the Pond

Eversheds Sutherland is pleased to announce that it has published a paper—“DC Plans in the US and the UK: Lessons From Across the Pond”—which addresses the differences between defined contribution (DC) plans in the US and the...more

FY 2019 Administration Budget Request

by Holland & Knight LLP on

President Donald Trump on February 12, 2018, submitted his budget request to Congress for Fiscal Year (FY) 2019. The President's full budget calls for approximately $4.4 trillion in total spending. Much of the budget seeks...more

Legal Ramifications of Paying Employees with Cryptocurrency

As cryptocurrencies surge in value and enter mainstream consciousness, an increasing number of employers may consider compensating their employees with bitcoin, ether, or other cryptocurrencies. While a cryptocurrency...more

2018 Benefits Grab Bag - Tax Reform, Bipartisan Budget Act and Other Items

by Winstead PC on

Even though the Tax Cuts and Jobs Act made some changes to how the Internal Revenue Service (the “Service”) is to adjust retirement plan contribution limits late last year, the Service confirmed that the limits on retirement...more

Congress Establishes New Committee to Solve Multiemployer Pension Plan Crisis

With President Trump signing into law the Bipartisan Budget Act of 2018 this past Friday, Congress established a new bipartisan, bicameral committee with the express goal of improving “the solvency of multiemployer pension...more

Seventh Circuit Holds that ERISA does not Preempt State “Slayer Statute”

by Bryan Cave on

We turn once again to the sad and difficult task that plan administrators face when distributing the benefits of a participant who has been murdered by his or her designated beneficiary. Sad for obvious reasons. Difficult...more

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