News & Analysis as of

Securities and Exchange Commission (SEC) Employee Benefits

Proskauer - Employee Benefits & Executive...

Executive Use of Corporate Aircraft: Navigating Tax, SEC Disclosure and Other Key Considerations

Companies are increasingly allowing their chief executive officers and, in certain circumstances, other executives to use corporate jets (which may be chartered flights or fractionally or fully owned aircraft) for personal...more

BCLP

SEC Staff Updates Rule 10b5-1 Interpretations

BCLP on

The SEC staff recently published updates to its interpretations (CDIs) for Rule 10b5-1 – the insider trading exemption for pre-established trading plans....more

Carlton Fields

Expect Focus - Volume II, May 2025

Carlton Fields on

Builder of Investment Models Deviates From Blueprints Employee’s Rogue Remodeling Costs Builder Plenty - The SEC’s recent order instituting administrative and cease-and-desist proceedings (OIP) against registered...more

Cooley LLP

Spring Cleaning for Corp Fin’s Rule 10b5-1 CDIs

Cooley LLP on

Last week, Corp Fin did some spring cleaning in the Rule 10b5-1 area by adding two new CDIs, revising 20 CDIs, and withdrawing three CDIs so they better jibe with the amendments to Rule 10b5-1 in 2022....more

Saul Ewing LLP

Correcting Liquidity, Valuation, or Transfer Problems With OTC-Traded Stocks in Retirement Plans to Minimize Enforcement and...

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Over 8,000 stocks trade on American stock exchanges, but billions of dollars in daily trades in these listed stocks and 12,000 more unlisted (non-exchange-traded) stocks occur outside of an exchange in Over-The-Counter...more

Carlton Fields

Expect Focus - Volume I, January 2025

Carlton Fields on

The Mysterious Boundary Beyond Which “Personal” Relationships Jeopardize a Director’s Independence - In a recent enforcement action, the SEC concluded that the relationship between James Craigie and an officer of Church &...more

Carlton Fields

2 Across: Changing Financial Product Recommendations

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Artificial intelligence (AI) can and is already changing how firms and registered representatives recommend financial products to customers. AI has the potential to enhance recommendations that registered representatives...more

Holland & Knight LLP

Fashion Retailer Failed to "Express" $1M in Perks But Skirts Civil Penalties

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Like a fashion trend that never fails to come back in style (we look fabulous in baggy jeans, btw), we're revisiting SEC enforcement actions involving public company executive perquisites – or "perks" – a topic we have...more

Carlton Fields

Getting Clued In: How the SEC’s RILA Rulemaking Affects Variable Annuities

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The recent rule and form amendments adopted by the SEC to facilitate the registration of registered index-linked annuities (RILAs) and market-value adjustment annuities (MVAs) on Form N-4 have been broadly welcomed by the...more

Carlton Fields

Jarkesy May Reshape SEC Enforcement Against Professionals

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For decades, the SEC has relied on its in-house administrative proceedings to enforce alleged violations under the federal securities laws, including under its own rules of practice....more

Seyfarth Shaw LLP

The DOL May Not Actually Want to Hear From You: New Guidance Streamlining the Voluntary Fiduciary Correction Program

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The DOL updated its voluntary fiduciary correction program (“VFCP”) which was introduced over 20 years ago to allow plan sponsors to corrected enumerated fiduciary breaches. The amended VFCP now allows for self-correction of...more

Morgan Lewis

SEC Disclosure and Taxation of Executive Security Benefits: Legal Requirements and Key Considerations

Morgan Lewis on

Many companies are reevaluating their corporate security practices and considering enhancements to the security protections they provide to their executives and other senior leaders. Companies exploring such security...more

Polsinelli

Department of Labor Proposes Rule on Valuing Stock for ESOP Stock Purchase and Sale Transactions

Polsinelli on

On January 16, 2025, the Employee Benefits Security Administration (EBSA) at the Department of Labor (DOL) released drafts of long-awaited proposed regulations seeking to clarify the definition of “adequate consideration” as...more

Carlton Fields

Expect Focus - Volume IlI, September 2024

Carlton Fields on

Gone With the Wind? Closed-End Funds Risk Extinction - Shares of SEC-registered closed-end funds (CEFs) have long held significant potential advantages for some investors. For example, unlike shares of mutual funds...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (49): Recommendations to Transfer IRAs (NAIC)

The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” DOL fiduciary regulation (the 5-part test) and the existing exemptions continue in effect indefinitely....more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (42):The Regulation and Exemptions are Stayed (2)—What Remains?

The DOL’s fiduciary regulation was scheduled to become effective this September 23. The exemptions were scheduled to become partially effective this September 23 and fully effective September 23, 2025....more

Snell & Wilmer

Meet the New Boss, Same as the Old Boss? The End of Chevron Deference and Its Impact on Employee Benefits

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On June 28, 2024, the Supreme Court published a landmark ruling that overturned decades of judicial deference to government agencies under the so-called Chevron doctrine. This decision fundamentally alters the landscape of...more

Carlton Fields

Expect Focus - Volume II, May 2024

Carlton Fields on

Last Lap in SEC RILA Rulemaking Critical Unresolved Issues - Congress directed the SEC to adopt a new registration statement for registered indexed annuities (RILAs) by the end of June. Several months ago, the SEC...more

Lowenstein Sandler LLP

U.S. Department of Labor Issues a New ERISA Fiduciary Rule

Lowenstein Sandler LLP on

On April 23, the U.S. Department of Labor (DOL) finalized its latest effort to change the rules for determining who a fiduciary is under the Employee Retirement Income Security Act of 1974, as amended (ERISA). Called the...more

McAfee & Taft

Bitcoin ETFs and workplace retirement plans: DOL has ‘serious concerns’

McAfee & Taft on

The U.S. Securities and Exchange Commission (SEC) recently approved applications from large investment firms to offer spot bitcoin exchange-traded funds (ETFs). Retail investors can now buy bitcoin ETFs on traditional...more

Carlton Fields

Preparing for 2024: Encore to 2023’s Cyber and Privacy Extravaganza

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Step right up as we discuss some of 2023’s most notable cybersecurity and privacy regulatory and litigation developments and tips for keeping your program flying high. Regulatory Activity New regulatory requirements now in...more

Carlton Fields

Expect Focus - Volume I, January 2024

Carlton Fields on

Funds Not Caged by SEC Names Rule Amendments: Roaming Room Remains - The SEC recently adopted amendments to its investment company “names” rule that apply to most SEC-registered funds, including underlying funds in which...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (10): What is An Investment? (Part 2)

The U.S. Department of Labor has released its package of proposed changes to the regulation defining nondiscretionary fiduciary advice and to the exemptions for conflicts and compensation for investment recommendations to...more

Quarles & Brady LLP

2023 Year-End Employee Benefits Updates

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This newsletter provides updates employers should be aware of heading into 2024, including an outline of the updated 2024 retirement and welfare plan limits, instructions related to the “gag order” attestation requirements...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Will Bitcoin ETFs open the door?

Thanks to litigation, the Securities and Exchange Commission will likely approve a few Bitcoin-centric exchange-traded funds. That begs the question, will those ETFs be allowed as investments within 401(k) plans?...more

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