Legal

• Congress urges DOL to consider minorities in fiduciary definition

  By Paula Aven Gladych  |  June 18, 2013

  Congress is worried that any change to the definition of who is a fiduciary will limit the access minority groups have to investment advice.

• SEC: Ex-Regions Morgan Keegan directors violated securities laws

  By Paula Aven Gladych  |  June 14, 2013

  The Securities and Exchange Commission has issued a cease and desist order against eight former directors of five Regions Morgan Keegan.

• Patriot, union exchange jabs during bankruptcy

  By Jim Suhr  |  June 14, 2013

  Top executives of a bankrupt coal producer and the nation's biggest miner's union are trading public jabs over bargaining meant to stave off a strike against a company given a court's go-ahead to slash health care and pensionbenefits to thousands of workers and retirees.

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  Disclosure rules help bring down 401(k) fees

  By Paula Aven Gladych  |  June 13, 2013

  Defined contribution plan fees are starting to drop, thanks to fee disclosure regulations put in place last year.

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  Life after fee disclosure

  By Pam Black  |  June 12, 2013

  Advisors, TPAs and plan sponsors agree: For participants, it was a nonevent when the DOL required fee disclosure to participants.

• Detroit advisor accused of stealing $3.1M from pension plan

  By Paula Aven Gladych  |  June 12, 2013

  The SEC has accused a Detroit-based investment advisor of stealing nearly $3.1 million from the city's police and firefighter's pension plan.

• DOL sues to recover $4.9 million for DB plan participants

  By Paula Aven Gladych  |  June 12, 2013

  The federal goverment is attempting to recover $4.9 million for defined benefit plan participants of an Iowa iron casting foundry and a Michigan manufacturer.

• SPARK wants fee disclosure extension

  By Paula Aven Gladych  |  June 11, 2013

  The SPARK Institute has asked the U.S. Department of Labor for an extension of the deadline when retirement plan sponsors are required to provide participant fee and investment disclosure materials to participants.

• Institutional investors confident they can manage risk

  By Paula Aven Gladych  |  June 10, 2013

  Institutional investors are confident they know how to manage risk, despite market swings, inflation and weaker returns.

• Pension group worries about tax reform

  By Paula Aven Gladych  |  June 10, 2013

  Conditions may be right for sweeping tax reform, but ASPPA wants to make sure those changes don’t gut the private retirement system.