Lawsuit: DC Plans More Vulnerable to ERISA Litigation Than DB Plans
Lawyers taking aim at a company’s retirement savings plan say firms with 401(k)s should expect to be sued more than those with traditional pensions.
Risk
UK Pensions Face Enforcement Action Over Climate Disclosures
The Pensions Regulator warns trustees not to shirk their climate risk disclosure responsibilities.
IRS Seeks to Track Down Cryptocurrency Tax Scofflaws
Court grants summons to identify taxpayers using Circle Internet Financial to conduct cryptocurrency transactions.
SEC Finds Potentially Misleading, Unproven Claims by ESG Funds
Agency issues risk alert over poor disclosure practices by some sustainable investment product providers.
Florida Senate Passes Bill to Move Most State Workers to DC Plan
Opponents say the proposed legislation attempts to solve a problem that doesn’t exist.
Extortionist Pleads Guilty to Crypto Firm Shakedown
Michael Hlady, who claimed to be part of the FBI, CIA, and NSA, threatened to ‘destroy’ a startup.
More Investors Are Allocating to Emerging Alternatives Managers
The lack of in-person meetings did not dampen interest in smaller firms, which are putting themselves out there through Zoom.
Tech Firm CEO Sentenced to 8 Years in Prison for Fraud
Daniel Boice pleaded guilty to defrauding 250 investors out of more than $18 million.
North Korean Extradited to US to Face Money Laundering Charges
Mun Chol Myong is the first North Korean to ever face criminal charges in the US.
BlackRock Agrees to Settle ERISA Lawsuit
Asset management giant ends class action litigation by paying plan participants $9.65 million.
SEC Charges Biotech Co-Founders with $60 Million Fraud
uBiome’s CEO and chief scientific officer were also indicted by a federal grand jury.
Financial Firm Head Indicted in Alleged Insider Trading Scheme
Jason Peltz is accused of using insider information and a relationship with a business reporter to reap a profit.
SEC Extends Its Reach into Dark Web
Regulator charges former SpaceX engineer in its first enforcement of alleged securities violations on that part of the internet.
The GameStop Woes Keep Plaguing Melvin Capital
A spate of legal complaints have been filed against the hedge fund over the past two months, as retail investors cry conspiracy and foul play.
Texas Energy Fund Adviser Charged with Defrauding Over 100 Investors
Fund principals allegedly pocketed nearly $2.7 million in illicit payments.