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Jones Day

Congressional Republicans and State Attorneys General Challenge Biden Administration's ESG 401(k) Rule

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Republicans at the state and federal levels are challenging a Biden administration rule (the "Rule") intended to walk back Trump-era regulations restricting the ability of retirement fund managers to consider climate change...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Labor Department has proposed (in a District of Minnesota court filing, at least) an 18-month delay in the retirement-adviser fiduciary duty rule compliance deadline. Experts suggest that a significantly revised rule is...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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So, it turns out that all of the Brexit-style market freefalling was reserved for overnight trading. US markets actually closed up yesterday after modest opening losses....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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In a closely watched battle over the DOL’s new fiduciary rule for retirement account investment advisers, the Labor Department has scored an early first victory. A DC federal judge ruled late last week that the rule at issue...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Merrill Lynch has already staked out the position in response to the DOL’s retirement account fiduciary duty rule that it would no longer offer commission-based IRAs to retirement savers. Yesterday, it effectively doubled...more

Carlton Fields

What’s Your Game Plan? Offensive or Defensive: Playing to Your Strengths [Expect Focus – October 2016]

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- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial - Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation - On The Horizon: Global...more

Ballard Spahr LLP

Investment Management Update

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Investment Adviser AXA Wins Excessive Fee Trial - A federal judge in New Jersey has ruled in favor of AXA Equitable Life Insurance Company (AXA Equitable) and its wholly owned subsidiary, AXA Equitable Funds Management...more

Stinson - Benefits Notes Blog

Owner/Trustee of 401(k) Plan Accused of Having Eyes Wide Shut on Fiduciary Duties

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Last June I blogged about the trend of participant fee class actions moving down to smaller 401(k) Plans. Occasionally, class actions are brought based on other breaches of fiduciary duties, particularly those involving...more

Ballard Spahr LLP

Investment Management Update - March 2016

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Below is a summary of recent investment management developments that affect registered investment companies, private equity funds, hedge funds, investment advisers, and others in the investment management industry. SEC, FINRA...more

Carlton Fields

For Life Insurers and Agents – A Summary of Predicted Litigation Under the DOL’s Proposed Fiduciary Rule

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The Department of Labor’s recent Proposed Rule (the “Proposal”), which defines the term “fiduciary” as it applies to persons who provide “investment advice” to ERISA plans and IRAs, will impact the likelihood and severity of...more

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