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Fidelity Investments

Fox Rothschild LLP

The Social Security Discussion

Fox Rothschild LLP on

One of the tenets of this blog is that in a no-fault world divorce is a financial transaction heavily imbued with human emotion. The effective divorce lawyer tries to guide clients through this emotional process in a way that...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL has grave concern over Fidelity bitcoin decision

The Department of Labor criticized Fidelity Investments’ plan to allow investors to put bitcoin in their 401(k) accounts....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fidelity to offer crypto window in 401(k) plans

Fidelity Investments will allow investors to put bitcoin (BTC) into their 401(k) retirement savings accounts later this year....more

Jackson Lewis P.C.

Crypto, SDBAs, and Your 401(k) Plan: What Now?

Jackson Lewis P.C. on

Just over a month ago, we wrote about the Department of Labor’s guidance on cryptocurrency as a 401(k) investment option, and the landscape has already shifted multiple times....more

Holland & Hart - The Benefits Dial

Every Little Thing … Considerations Before Adding Crypto to a 401(k) Plan

Fidelity Investments recently announced that it will offer its 401(k) plan clients the opportunity to offer bitcoin as a 401(k) plan investment option later this year. While this may sound intriguing to some plan fiduciaries...more

Mintz

Crypto is . . . Everywhere . . . and the SEC and other Regulators Are Sprinting to Keep Up

Mintz on

Crypto seems to be everywhere these days. Just last week Fidelity Investments launched a bitcoin option for its 401(k) plans. The nation’s largest plan administrator is providing the 23,000 companies it manages retirement...more

Wiley Rein LLP

Over $141 Million in Trading Losses for Illegal Trade Deemed “Direct Financial Loss” for “Malicious Act”

Wiley Rein LLP on

A New York intermediate appellate court has held that an insured was entitled to coverage under its fidelity bond for over $141 million in losses it sustained after an independent broker used the insured’s electronic trading...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fidelity wins data as plan asset case

Fidelity won a huge case. Schlichter, Bogard & Denton brought a lawsuit on behalf of four participants in Shell Oil Co.’s 401(k) plan. While the case focused on excessive fees, it alleged that the use of participant data...more

Foley & Lardner LLP

Fairbairn v. Fidelity Investments Charitable Gift Fund: Managing Contributions of IPO Stock Goes Awry, but Donors have Little...

Foley & Lardner LLP on

Donors make contributions to donor-advised funds (“DAFs”) for a variety of reasons. One is that DAF rules permit the donor to make the contribution in the current year (which entitles the donor to a deduction in that year),...more

Robins Kaplan LLP

Financial Daily Dose 2.11.2021 | Top Story: Fed Chair Powell Urges Focus on Restoring Full Employment

Robins Kaplan LLP on

In a much-anticipated [well, for some of us central bank nerds, at least] to the Economic Club of NY, Fed Chair Powell on Wednesday acknowledged that pent-up consumer demand unlocked by a big government stimulus package could...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Proprietary fund plan sponsor problems

I always say that I come up with many ideas, but most of them are bad. Seriously, there are so many bad ideas out there in the 401(k) space and one of the really bad ideas out there are bundled plan providers using their own,...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Fidelity settles lawsuit for $28.5 million

Fidelity Investments settled a class-action lawsuit regarding its own 401(k) plan for $28.5 million. The class-action case alleged that Fidelity breached its fiduciary responsibility to plan participants by including its...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Shell gets sued over their 401(k) Plan

Shell Oil, along with Fidelity is the target of a class action 401(k) lawsuit. As typical with a suit against a large billion-dollar 401(k) plan, plaintiffs allege that Shell failed to use the multi-billion dollar 401(k)...more

Robins Kaplan LLP

Financial Daily Dose 2.20.2020 | Top Story: Fed Minutes Show Central Bank Happy With Economy, Worried About Coronavirus

Robins Kaplan LLP on

Newly released minutes from the Fed’s January meeting show central bankers preoccupied with global risks, including the still-growing economic impact of the coronavirus, while still taking a wait-and-see approach to any...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Amazon taps Fidelity for its 401(k)

Amazon is a mover and shaker in e-commerce and they have a pretty large 401(k) plan now. As of the end of 2018, their 401(k) plan has almost $6 billion in assets....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

TDF Analysis Is Par For The Course

As part of an analysis, Fidelity Investments compared average asset allocations of participants to an age-based Target Date Fund and they found that nearly a quarter (23%) of 401(k) savers still have a higher percentage of...more

Kramer Levin Naftalis & Frankel LLP

ICI, BlackRock, Fidelity, others urge SEC to expand retail access to private offerings

Several firms, including Investment Company Institute, BlackRock, Fidelity and Franklin, commented to the SEC concept where retail investors could gain greater exposure to growth-stage private companies through pooled...more

Robins Kaplan LLP

Financial Daily Dose 10.10.2019 | Top Story: US/China Trade Talks Resume Even as Tensions Grow

Robins Kaplan LLP on

Senior negotiators from the U.S. and China will officially resume trade negotiations today, “with higher tariffs looming if [they] fail to break a five-month stalemate.” The U.S.’s moves this week to blacklist 28 Chinese tech...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

MIT folds in class action lawsuit

Kenny Roger’s “The Gambler” song has some great tips. You need to know when to hold ‘em, know when to fold ‘em, know when to walk away, and know when to run. MIT wisely settled a class-action lawsuit concerning their...more

Faegre Drinker Biddle & Reath LLP

SEC Adopts Final Auditor Independence Loan Rule

On June 18, 2019, the Securities and Exchange Commission (“SEC”) adopted final amendments to Rule 2-01(c)(1)(ii)(A) of Regulation S-X (the “Loan Rule”) to clarify the analysis that must be conducted to determine whether an...more

Ballard Spahr LLP

Fidelity's "Infrastructure" Fee Draws Unwanted Attention From Regulators And Several Lawsuits

Ballard Spahr LLP on

On February 21, 2019, a participant in T-Mobile’s 401(k) plan sued the parent company of Fidelity Investments in federal District Court, accusing Fidelity of receiving indirect compensation through the use of a “hidden” fee...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Lawsuits against Fidelity piling on

With Fidelity being under fire for “shelf space payments” from mutual fund companies to appear on their platform, it’s not surprising that ERISA litigators smell blood in the water like the sharks people think they are....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The problem with shelf space payments

Fidelity is being sued and being investigated for shelf space payments they receive from mutual fund companies for room on their fund platform. They’re not the only provider to receive these fees and I find it totally...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL probing Fidelity

According to an article in the Wall Street Journal, the Department of Labor (DOL), is looking at an obscure and confidential “infrastructure” fee that Fidelity charges the mutual fund companies for putting their funds on its...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

OxyContin maker Purdue Pharm is prepping for a possible bankruptcy filing “as it seeks to contain liability from hundreds of lawsuits alleging it fueled the nation’s opioid epidemic.” Officially, the company went on the...more

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