Legal

The Department of Labors new fiduciary proposal potentially stands to complicate a retirement planning industry already marked by consumer confusion.

The U.S. Securities and Exchange Commission, which polices public companies financial reports, lacks internal controls over its own accounting, a government watchdog said Thursday.

A claim against EOG Resources Inc., formerly Enron, has been brought in U.S. District Court for the Southern District of Texas alleging ERISA and Fair Labor Standards Act violations.

City National Bank and its officers are in hot water with the Department of Labor, after the latter filed suit against fiduciaries of the City National Corp. Profit Sharing Plan over what it said were excessive fees arising out of self-dealing and conflicted transactions involving plan assets by those fiduciaries.

Volunteers from AARP descended on Washington bearing petitions in support of a fiduciary standard.

Plan sponsors are increasingly unaware theyre fiduciaries.