X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Morgan Keegan and Co. Inc. has agreed to pay $633,715 to 10 pension plans covered by the Employee Retirement Income Security Act. The agreement was in response to an investigation by the U.S. Department of Labor’s Employee Benefits Security Administration that found the full-service brokerage company violated federal law when it recommended certain hedge funds of funds as investments to its ERISA-covered employee benefit plan clients. These recommendations resulted in the hedge funds of funds paying Morgan Keegan revenue-sharing and other fees.

Dig Deeper

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.