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Read need-to-know updates, commentary, and analysis on Securities issues written by leading professionals.

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

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

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

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

Plan Sponsors have to Keep Track of All Plan Amendments

by Ary Rosenbaum on

I didn’t have such a great time at law school because I felt the administration and much of the faculty weren’t honest when it came to the study of law and more importantly, our job opportunities. There was one law professor...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

Supreme Court Limits the Definition of Whistleblower for Anti-Retaliation

by Weiner Brodsky Kider PC on

In an opinion that settled a circuit split, the Supreme Court has decided that the definition of “whistleblower” in the Securities Exchange Act of 1934 is limited to employees who provide information relating to violations of...more

Business Litigation Alert: "Supreme Court Clarifies – Dodd-Frank Whistleblowers Must Also Perform for the SEC for Protection"

by Porter Hedges LLP on

On February 21, the U.S. Supreme Court issued its opinion in the closely watched whistleblower case Digital Realty Trust, Inc. v Somers. In a unanimous ruling, the Court stated that whistleblowers must report any wrongdoing...more

Tax Cuts and Jobs Act: Implications for Public Company Executive Compensation Programs

by Snell & Wilmer on

The Tax Cuts and Jobs Act (the “Tax Act”) has significant implications for public company executive compensation plans for tax years beginning after December 31, 2017 and will likely have a considerable impact on the future...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

SEC Reporting & Compliance and Corporate Governance Series

On February 13, 2018, Skadden hosted a webinar titled “ SEC Reporting & Compliance and Corporate Governance Series: Key Trends in Executive Compensation, Employment Law and Compensation Committee Practices.” Executive...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

New Limits on Whistleblower Protection: SCOTUS Makes SEC Reporting a Mandatory Requirement

Resolving a Circuit split, the United States Supreme Court unanimously held last week that an employee must report a securities violation to the Securities and Exchange Commission if he wishes to avail himself of the...more

US Supreme Court Narrows Dodd-Frank Act Whistleblower Protections

by White and Williams LLP on

The US Supreme Court recently resolved a long-standing split amongst the Circuits regarding whether the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act) protects both internal and external whistleblowers....more

SEC Whistleblower Update

by McDermott Will & Emery on

The Supreme Court recently clarified the scope of SEC whistleblower retaliation provisions. Though the decision limits retaliation actions, employers should continue to avoid conduct that can be interpreted as retaliation...more

Supreme Court Limits Scope of Whistleblower Protections under Dodd-Frank: Items of Note and Potential Impacts

by Vedder Price on

On February 21, 2018, the United States Supreme Court (the “Supreme Court”) resolved a circuit split on the question of whether the whistleblower anti-retaliation provision in Section 922 of the Dodd-Frank Wall Street Reform...more

Supreme Court narrows definition of a whistleblower under Dodd-Frank to require reporting to SEC - Be careful what you wish for.

by Dentons on

On February 21, 2018, the Supreme Court in Digital Realty Trust, Inc. v. Somers narrowly construed the definition of “whistleblower” in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank” or...more

Key Whistleblower Decision Addresses Scope of Dodd-Frank Protections

In a unanimous decision issued on February 21, 2018, the U.S. Supreme Court held that the anti-retaliation provisions of the 2010 Dodd-Frank law protect only those whistleblowers who report information to the Securities and...more

Advisors Advantage - March 2018

by Ary Rosenbaum on

Trying To Understand A Plan Sponsor's Irrational Decisions Isn't Easy. It's hard to make sense of irrational decisions, but here is a starter. As retirement plan providers, we know that it's very hard to recruit new...more

U.S. Supreme Court Clarifies Scope Of Whistleblower Protections Under Dodd-Frank

On February 21, 2018, in the case of Digital Realty Trust, Inc. v. Somers, the United States Supreme Court unanimously decided that employees who raise internal complaints about possible violation of securities laws are not...more

Blowing the Whistle Internally Is Not Enough to Be Covered by the Anti-Retaliation Provisions of the Dodd-Frank Act

by Blank Rome LLP on

On February 21, 2018, the U.S. Supreme Court issued a much anticipated decision in Digital Realty Trust, Inc. v. Paul Somers that the anti-retaliation protections of the Dodd-Frank Wall Street Reform and Consumer Protection...more

Alert: United States Supreme Court Conclusively Narrows Definition of Whistleblower in Dodd-Frank Retaliation Cases

by Cooley LLP on

On February 21, 2018, the United States Supreme Court unanimously held that employees must report a violation of securities laws to the Securities and Exchange Commission ("SEC") to be entitled to anti-retaliation,...more

What the Supreme Court’s Whistleblower Decision Means for Companies

by Latham & Watkins LLP on

By limiting the availability of Dodd-Frank whistleblower anti retaliation provisions, the Court’s decision may incentivize increased SEC reporting. In Digital Realty Trust, Inc. v. Somers, the Supreme Court of the United...more

Open MEPs will eventually rise again

by Ary Rosenbaum on

Multiple employer plans (MEPs) are a topic that many plan providers talk about, but don’t really know what’s allowed and what’s not. A multiple employer plan is a plan where unrelated employers adopt a plan and it should...more

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