New DOL information letter sheds light on how US defined contribution retirement plans (such as 401(k) plans) may offer private equity investments in compliance with ERISA.
Key Points:
..Private fund sponsors and “fund of...more
New York partner Bradd Williamson, Global Chair of Latham’s Benefits, Compensation & Employment Practice, and Chicago partner Robin Struve discuss Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry...more
2/11/2020
/ Business Entities ,
Capital Investments ,
Employee Retirement Income Security Act (ERISA) ,
Investment Funds ,
Joint and Several Liability ,
Partnership-in-Fact ,
Pension Funds ,
Pensions ,
Portfolio Companies ,
Private Equity Firms ,
Private Equity Funds ,
Sun Capital Partners ,
Underfunded Plans
The First Circuit reverses a lower court decision and finds two Sun Capital private equity funds are not liable for portfolio company’s pension plan liabilities under ERISA.
On November 22, 2019, the United States Court of...more
The BIC Exemption to the new DOL Fiduciary Rule offers some relief, but at a potentially prohibitive cost.
The US Department of Labor (the DOL) recently forced the most significant change to the investment community...more
6/23/2016
/ Best Interest Contract Exemptions ,
Best Interest Standard ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Final Rules ,
Individual Retirement Account (IRA) ,
Notice Requirements ,
Recordkeeping Requirements ,
Required Documentation
Final rule reflects some concessions, but its broad scope and compliance costs will cause financial services advisers to re-evaluate their business models.
On April 6, 2016, the US Department of Labor (the DOL) released...more
5/5/2016
/ Best Interest Contract Exemptions ,
Best Interest Standard ,
Broker Commissions ,
Broker-Dealer ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fees ,
Fiduciary Duty ,
Final Rules ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
PTEs ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
SIFMA