Legal

Regulators say advisors should update contingency plans so they can get back to work more quickly following a natural disaster such as Hurricane Sandy.

The retirement industry asks the IRS for clarity on severance status and managing non-vested employer contributions in upcoming 403(b) rules.

According to the suit, BlackRock kept 40 percent of net revenues including administrative fees, which were not returned to the iShares funds.

Lawyers for hundreds of black financial advisers have reached a $160 million settlement in a lawsuit accusing Wall Street brokerage giant Merrill Lynch of racial discrimination, a plaintiffs' attorney said Wednesday.

Because the plan is significantly underfunded, the decision jeopardizes the retirement security of everyone in the plan.

Judge Robert Lanik ruled that the participants in the defined benefits plan who filed the suit have standing to collect equitable relief, but not to collect damages.