Courts/legal

Kentucky Supreme Court strikes down pension reform law

Courts

Courts

The Kentucky Supreme Court ruled unconstitutional a pension reform bill signed by Gov. Matt Bevin because it violated a state law.
Edward Jones agrees to pay $3.2 million to settle 401(k) fiduciary breach case

Courts

Courts

Edward Jones agreed to a $3.175 million settlement with 401(k) plan participants who alleged ERISA violations relating to investment options.
Chicago mayor proposes $10 billion in bonds to improve pension funding

Pension Funds

Pension Funds

Chicago Mayor Rahm Emanuel proposed issuing $10 billion in bonds to improve funding in the city's pension funds.
Pioneer Natural Resources settles 401(k) fiduciary breach suit

COURTS

COURTS

Pioneer Natural Resources USA Inc. has agreed to pay $500,000 to settle charges that 401(k) plan managers breached their fiduciary duties.
SEC enforcement actions surge in second half of fiscal 2018

Regulation

Regulation

SEC regulators took many more enforcement actions against public companies in the second half of 2018.
Supreme Court agrees to revisit how much deference to give regulators in interpreting rules

Courts

Courts

The Supreme Court agreed to revisit the question of when courts should defer to regulators' interpretations of rules when ambiguity exists.
Citadel Securities, Natixis, MUFG to pay $6.2 million to settle SEC 'blue sheet' trading charges

Regulation

Regulation

Three broker dealers will pay $6.15 million to settle charges involving deficient SEC "blue sheet" trading and account holder information.
Franklin Resources, former 401(k) participant settle ERISA lawsuit

Courts

Courts

Franklin Resources and a former participant in the company's 401(k) plan settled a lawsuit that claimed the plan violated ERISA rules.
Aon Hewitt says SEC looking at marketing materials

REGULATION

REGULATION

Aon Hewitt Investment Consulting is being investigated by the SEC, which is focusing on the firm's marketing materials and custodial fees.
BT Pension Scheme nixes plan to switch indexes for benefit calculations

PENSION FUNDS

PENSION FUNDS

U.K. court rules BT can't change the index for calculating certain participants' pension increases.
Deutsche Bank settles class action over RMBS trusts

Courts

Courts

Deutsche Bank agreed to settle a class action over its handling of residential mortgage-backed securities trusts.
Settlements and motions to dismiss filed in St. Joseph's pension fund challenges

COURTS

COURTS

Defendants in several lawsuits against Prospect CharterCare have asked a court to dismiss the case, saying it should never have been filed.
MetLife sued over underpaying pension plan participants

COURTS

COURTS

A lawsuit claims MetLife underpaid pension plan participants by using outdated mortality rates to calculate certain retirement benefits.
BB&T, plan participants settle fiduciary breach case

Defined Contribution

Defined Contribution

BB&T has agreed to pay $24 million to settle claims that officials for its 401(k) plan charged "unreasonable" investment management fees.
Fifth Street settles with SEC over expense misallocation, valuation review

Alternatives

Alternatives

Fifth Street Asset Management will pay nearly $4 million to settle claims it misallocated some expenses to its former BDC clients.