When Louis Hanna was fired in 2017, he was 50 years old, had early-stage prostate cancer and was seeking medical leave, according to the complaint.
Robert J. Mueller of San Antonio bilked nearly 300 investors over several years, the agency says.
The plaintiff allegedly lost $24,000 when the fund was removed from the plan and his assets were transferred to a target-date fund.
The asset manager known mostly for its money market funds has high hopes for its late move into fast-growing exchange traded funds. The firm first filed plans to launch the fund 10 years ago.
The enforcement action centered on a decision in April 2019 to replace third-party ETFs in approximately 20,000 automated accounts with funds sponsored by the firm’s parent company, Social Finance Inc.
But Sen. Chris Van Hollen, D-Md., says it's too soon to tell whether his proposals will be adopted in the $3.5 trillion budget bill working its way through Congress.
Fusion Analytics and head Michael Conte misled investors, agency charges.
Battery Private and Jeffrey Slothower allegedly misappropriated $1 million in two separate schemes.
The development in the 403(b) plan case is considered a victory for the law firm Schlichter Bogard & Denton, which several years ago led a legal crusade against universities and other plan sponsors.
Incumbent Paige Pierce and challenger Daniel Logue are competing in the only contested race in the election that concludes on Sept. 1.
The adviser, Nicholas Spagnoletti, used his personal cellphone to upload, possess and distribute images of child pornography, according to the Morris County Prosecutor's Office in New Jersey.
The letters sent to plan sponsors have not included deadlines for recouping the funds, although the DOL is requesting confirmation that the participants are reunited with their money, according to one law firm.
The SECURE Act 2.0 builds on the success of the original SECURE Act signed into law in 2019 with several commonsense provisions to further help individuals save and invest for their retirement.
Had Juniper Networks' plan used higher-revenue-sharing share classes, net costs conceivably could have been lower, if those fees were rebated back to participants, according to the complaint.
The Securities and Exchange Commission alleges the funds solicited from elderly clients were used on 'lavish personal expenses,' including homes in New York and Santa Fe.
Rep. Patrick McHenry, R-N.C., argues that Gensler’s appeal to Congress for jurisdiction over cryptocurrency regulation is a 'power grab.'
Lawmakers could decide to limit like-kind property exchanges as a way to pay for Biden administration spending priorities.
The class action calls out the plan's fees for investments, record keeping and financial advice.
Advisory firms for years have continued to be plagued by imposters seeking access to clients' accounts.
Melanie Senter Lubin will start a one-year term as president of the North American Securities Administrators Association in September.
