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

M&A, 401(k) & The Plan Sponsor: What You Need To Know

by Ary Rosenbaum on

Mergers and acquisitions (M&A) are transactions in which the ownership of companies, other business organizations or their operating units are transferred or combined. M&A is an extremely important concept in the world of...more

Vantage defaults in first case decision

by Ary Rosenbaum on

It didn’t take long for the first decision in a lawsuit against vantage Benefits and its owners when they defaulted. A default judgment was handed down by Judge David C. Godbey of the U.S. District Court for the Northern...more

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

1 .What role does the government of Colombia play in approving and regulating foreign direct investment? Foreign direct investment (FDI) in Colombia is subject to registration with the Colombian Central Bank (Banco de la...more

Tenth Circuit Upholds DOL’s Authority to Impose New Conditions for PTEs and Leaves Door Open for Changes to Fiduciary Rule

The Tenth Circuit recently affirmed the Department of Labor’s authority to impose new conditions for exemption from prohibited transaction rules with respect to the sale of annuity contracts. The case related to the...more

A Uniform Standard of Review in ERISA Benefit Denial Cases: The Fifth Circuit Overrules Itself to Fall in Line with Other Courts

by Littler on

With its en banc decision in Ariana v. Humana Health Plan of Texas, the Fifth Circuit reconsidered the standard of review in an ERISA denial of benefits case. ...more

Send Out the Search Party: The DOL and Other Agencies Focus on Plan Efforts to Locate Missing Participants (Part 1)

In the past year, the Department of Labor (DOL) has drastically increased audits of retirement plans with participants – or beneficiaries – who cannot be located in conjunction with the distribution of owed benefits. ...more

Don’t be cheap when it comes to your retirement plan

by Ary Rosenbaum on

As I have stated so many times, I don’t want to hire employees because I was an employee once too. That pretty much means that I never met an employee whoever thought they were overpaid. For that matter, I never met an...more

Branch v. GEICO: The Convergence Of Class Certification And Article III Standing

by Seyfarth Shaw LLP on

On January 10, 2018, the U.S. District Court for the Eastern District of Virginia denied Plaintiff Tiffanie Branch’s renewed motion for class certification in Branch v. Government Employees Insurance Company, No....more

Another Vantage lawsuit with an advisor twist

by Ary Rosenbaum on

A great scene is in GoodFellas is when Jimmy chastises Henry for getting arrested because he allowed himself to be incriminated through wiretaps. For years, I’ve been warning advisors about the referrals they make and it...more

Issues Plan Sponsors and Fiduciaries Should Watch

by Winstead PC on

Once upon a time, our retirement plan worries were primarily generated by the U.S. Department of Labor (“DoL”) or the Internal Revenue Service and their regulatory and enforcement efforts. In more recent times we have seen...more

Beware of those plan document restatement requests

by Ary Rosenbaum on

Every 6 years or so, the Internal Revenue Service (IRS) requests that retirement plan documents be restated to comply with current law. While it’s a great thing for ERISA attorneys and third-party administrators, it’s not so...more

Effective Immediately: Change in HSA Contribution Limits for Family Coverage

by Pepper Hamilton LLP on

Employers who sponsor a High Deductible Health Plan with a Health Savings Account (HSA) should take immediate action and notify employees that the annual maximum family contribution limit to an HSA has changed....more

Surprise HSA Limit Reduction May Require Employer Action

by Barley Snyder on

Employers should consider steps to address employee health savings account contributions after a surprising IRS decision last week....more

New Disability Claims Procedures May Apply to Qualified and Nonqualified Retirement Plans, Too

As mentioned in our recent blog, the date for complying with the new disability claims procedures (April 2, 2018) is rapidly approaching. In addition to making sure disability plans comply with the new rules, employers...more

Why Your 401(k) Plan Should Get a Tune-Up

by Ary Rosenbaum on

Cars are built better today and the engine tune-up that was needed after 50,000 to 75,000 miles isn’t needed until later on to replace spark plugs and timing belts. However, there are still little preventive things that need...more

Bill Aims At Prohibiting Public Pension Fund Investments In Alternative Investment Vehicles Lacking Race And Gender Pay Equity...

by Allen Matkins on

Last year, Assembly Member Lorena Gonzalez Fletcher authored a bill, AB 1209, that would have required employers with 500 or more employees in California to provide to the Secretary of State specific information regarding...more

IRS Reduces 2018 HSA Contribution Limit

On March 5, 2018, the IRS announced a reduction in the amount that an individual with family coverage under a high deductible health plan (“HDHP”) can contribute to a health savings account (“HSA”) for 2018. The lowering of...more

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

1 .What role does the government of the Cayman Islands play in approving and regulating foreign direct investment? The Cayman Islands Government has put in place and continues to maintain a regulatory structure whose goal...more

Thanks for Noticing: Disability Claims Procedure Regulations Change Notice Requirement Next Month, Impose Strict Compliance...

The DOL’s revised ERISA disability claims procedures regulations will be taking effect early next month, and plan sponsors should take a hard look at plan processes over the next few weeks to ensure compliance. ...more

Employment Law - March 2018

AGs Urge Legislation Ending Arbitration for Sexual Harassment Claims - Why it matters - In a letter to congressional leadership, the attorneys general of all 50 states, the District of Columbia and five territories...more

A Matter of Trusts: Tenth Circuit to Decide Important ESOP Case

by McDermott Will & Emery on

The ESOP industry is paying close attention to a Tenth Circuit appeal that will address the deferral of corporate deductions for certain accrued expenses payable to ESOP-participating employees. This appeal, which pertains to...more

LATIN AMERICA & THE CARIBBEAN A Legal Guide for Business Investment and Expansion - British Virgin Islands

1 .What role does the government of the British Virgin Islands play in approving and regulating foreign direct investment? The British Virgin Islands (commonly referred to as BVI) are a British Overseas Territory. As a...more

Review of Qualified Plan Compensation Definition May be Needed Due To Tax Reform

by Snell & Wilmer on

Tax reform made few changes that directly impact qualified retirement plans; however, it made some changes that may indirectly impact qualified retirement plans. We previously blogged on the indirect changes that tax reform...more

Revisions Planned For The FDIC’s Statement Of Policy For Section 19 Of The Federal Deposit Insurance Act

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The FDIC is accepting comments until March 9, 2018 on the proposed revisions to the Statement of Policy for Section 19 of the Federal Deposit Insurance Act; the FDIC is seeking, among other things, to...more

IRS Makes Changes to EIN Application Process

by Morgan Lewis on

The Internal Revenue Service issued new instructions for the Employer Identification Number application process in December 2017. Unless an applicant is a government entity, the applicant’s “responsible party” must now be an...more

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