SEC Activity with Fixed Income and Credit Funds
The U.S. Court of Appeals for the Eighth Circuit recently affirmed a District Court’s finding that Principal Life Insurance Company (“Principal”) did not breach its fiduciary duties regarding its stable value contract for...more
Our Investment Management Alert from earlier this month described to private fund advisers the importance of the Security Exchange Commission’s (SEC’s) Division of Examinations recent Risk Alert on cross trades and principal...more
In This Issue. The federal bank regulatory agencies requested public comment on proposed guidance designed to help banking organizations manage risks associated with third-party relationships; the Office of the Comptroller of...more
I wasn’t a fan of target-date funds when the markets crashed in 2008 because there was no consistency of investment objectives and equity-fixed income mix between target-date funds for a specific year among different fund...more
Bass, Berry & Sims attorney Chris Lazarini examined allegations brought by members of a company’s 403(b) retirement savings plan that the plan fiduciaries violated their duties by selecting and failing to replace higher-cost...more
Non-Enforcement - SEC Decides Against Mounting an Appeal in Koch Ruling - The July 2015 ruling by the D.C. Circuit Court in Koch v. SEC will apparently not be challenged by the SEC. The Court ruled in that...more