Walgreens Sued for $300 Million over Alleged 401(k) Mismanagement
Suit says poorly performing funds were ‘devastating’ to retirement accounts.
Regulation
Millions at Risk of Falling for Pension Scams
UK Regulators warn public to be wary of tactics used to pilfer their savings.
UK Recruitment Firm Prosecuted for Trying to Avoid Giving Pensions
SKL Professional Recruitment is also accused of lying to The Pensions Regulator.
UK Pensions Making ‘Fat Living’ Off of Hidden Fees
Scathing report says industry can’t be trusted to voluntarily disclose all fees.
Caesars Wins Withdrawal Liability Lawsuit Against Pension
Court rules casino operator not obligated to pay $2 million withdrawal fee.
Louisiana Pension Sues Cardinal Health over Cordis Acquisition
Class action suit alleges company misrepresentations led to ‘artificially inflated’ share prices.
Moody’s: Kentucky Pension Reform Is a Negative for State’s Credit Rating
Credit agency says the reform only pushes costs into the future. Gov. Bevin says he’s ‘not surprised.’
UK’s FCA Proposes Ban on Contingent Pension Transfer Fees
Regulator says lucrative transfer incentives create conflict of interest for advisers.
Senate Holds Hearing on Digital Currencies, Blockchain
Crypto proponents argue current banking system is inefficient and exclusionary.
CalPERS Board Considers Gag Policy
Once investment decisions are made, board members would be prevented from talking to the press and expressing their views at board meetings.
Senate to Deal with Union Pension Crisis After House Passes Butch Lewis Act
Democratic-led bill faces stiff opposition from Republicans.
FCA Fines Standard Life Nearly £31 Million over Annuities Sales
UK regulator says incentives to sell annuities led to conflict of interest.
Proposed Bill to Require Companies to Disclose Climate Risk
Legislation would require SEC to issue climate risk disclosure guidelines.
Real Estate Advisory Firm, Execs Pay over $60 Million to Settle SEC Charges
SEC alleges firm wrongfully inflated incentive fees for two mergers.
TPR Cracks Down on UK Firms Changing Names to Shirk Pension Duties
Regulator is hunting employers that rebrand to try to dodge workplace pension responsibilities.