Regulations/Legal Archives - Page 8 of 9 - Retirement Income Journal

Price-fixing suit names Goldman, 21 other primary Treasury dealers

By Editorial Staff Thu, Jul 30, 2015

The suit by Boston's public employees' pension accuses traders at the 22 prominent firms of conspiring via Internet chatrooms and text messages to widen the spreads, or profit margins,...

Published July 30, 2015

Would the DoL Proposal Deny Advice to the Masses?

By Kerry Pechter Thu, Jul 23, 2015

Forcing commissioned brokers and agents to act like fiduciaries would deprive middle-class investors of access to financial advice, critics of Labor's proposal argue. Maybe. It would almost certainly deprive...

Published July 23, 2015

Lockheed Martin’s $62 million ERISA settlement approved

By Editorial Staff

“The settlement is the largest ever for a case of this kind against a single employer,” said Thomas E. Clark Jr. of the Wagner Law Group.

Published July 23, 2015

Conversions of pensions to lump sum payments are banned

By Editorial Staff Thu, Jul 16, 2015

“If a participant has the ability to accelerate distributions at any time, then the actuarial cost associated with that acceleration right would result in smaller initial benefits," the IRS...

Published July 16, 2015

New whitepaper attacks DOL conflict-of-interest proposal

By Editorial Staff Thu, Jul 9, 2015

“If the rule is enacted as written,” write Jack Marrion and Kim O'Brien, “it will cause a severe disruption for many securities brokers and dealers but will be devastating...

Published July 9, 2015

Public comments on DOL are now available; hearing to start August 10

By Editorial Staff Thu, Jun 25, 2015

A portion of the hearing will focus on the Department’s Regulatory Impact Analysis, which addresses the potential or anticipated economic effects of the proposal, and the relative merits of...

Published June 25, 2015

SEC and FINRA publish study of sales to seniors at BDs

By Editorial Staff

With respect to variable annuities, the SEC and FINRA said they found evidence of potentially unsuitable sales to seniors at 34% of the 44 broker-dealers they examined.

Published June 25, 2015

NJ Supreme Court sides with Gov. Christie on pension issues

By Editorial Staff Wed, Jun 17, 2015

Last year, Gov. Christie cut $1.6 billion from the state's fiscal 2015 public pension contribution, claiming that the state could not afford it.

Published June 18, 2015

A Two-Headed Nightmare: The Robos and the DOL

By Kerry Pechter Thu, May 21, 2015

The Amazon-ification of financial services will eventually disintermediate tens of thousands of financial salespeople. If you didn't get the memo already, consider the conflict-of-interest proposal a final wake-up call.

Published May 21, 2015

Statute-of-limitations is flexible for ERISA suits: Supreme Court

By Thomas E. Clark, Jr.

This article, which comments on the Supreme Court's ruling this week on the ERISA excessive fee case of Tibble v. Edison, is excerpted from the Wagner Law Firm's Fiduciary...

Published May 21, 2015

Nationwide Life fined $8 million for pricing violations

By Editorial Staff Thu, May 14, 2015

'For more than a 15-year period, Nationwide intentionally delayed the delivery of untracked mail containing orders from customers and processed them at the next day’s prices in violation of...

Published May 14, 2015

LPL to pay at least $11.7 million for range of abuses

By Editorial Staff Thu, May 7, 2015

LPL, which had revenues of $1.1 billion in the first quarter of 2015, was charged with “broad supervisory failures in a number of key areas.” The broker-dealer consented to...

Published May 7, 2015

Annuity CEOs receive disclosure demands from Sen. Warren

By Editorial Staff Thu, Apr 30, 2015

Breaking News: Elizabeth Warren, the Democratic senator from Massachusetts, has asked chief executives at 15 major annuity issuers to furnish her with details about the incentives they offer, if...

Published April 30, 2015

Question: Can the DOL regulate advice on IRAs?

By Editorial Staff Thu, Apr 23, 2015

Last week, after almost five years of deliberation, the Department of Labor asserted its right to police the financial advice that individual IRA owners are given. What gives the...

Published April 23, 2015

BlackRock fined $12 million for fund manager conflict of interest

By Editorial Staff

One of the firm's top portfolio managers had a $50 million interest in one of his funds’ largest holdings, the Securities and Exchange Administration said, in announcing its settlement...

Published April 23, 2015

Video: Elizabeth Warren at the National Press Club

By Editorial Staff

Sen. Warren spoke in favor of greater financial regulation at the annual Hyman Minsky Conference, sponsored by the Levy Economics Institute and held this year at the National Press...

Published April 23, 2015

DOL to Advisors: ‘Take the Pledge’

By Kerry Pechter Fri, Apr 17, 2015

In the much-anticipated revision of its 2010 proposal to curb conflicted sales to retirement account owners, the Department of Labor asserts that rollover IRAs are within its jurisdiction. It...

Published April 17, 2015

IRS relaxes penalty that discouraged auto-enrollment

By Editorial Staff Thu, Apr 9, 2015

A penalty on plan sponsors for failing to make scheduled deferrals to auto-enrolled plan participants was identified as a barrier to adoption of auto-enrollment into retirement plans, so the...

Published April 9, 2015

Ameriprise and Bank of New York Mellon settle ERISA suits

By Editorial Staff Fri, Mar 27, 2015

Ameriprise Financial will pay $27.5 million to settle charges that its own 401(k) plan investment options were too expensive and Bank of New York Mellon will pay $84 million...

Published March 27, 2015

New York City comptroller calls for statewide “fiduciary disclosure”

By Editorial Staff

“Billions of dollars in savings are lost each year because of hidden fees and conflicted financial advice,” Scott Stringer said, borrowing a theme from the Obama administration, which has...

Published March 27, 2015

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