Employee Benefits Security Administration

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  DOL Proposes Streamlining Bankrupt Companies’ Plan Distributions

  By Melanie Waddell, AdvisorOne  |  December 11, 2012

  EBSA issued a proposed rule and a related class exemption designed to make it easier for Chapter 7 bankruptcy trustees to distribute assets from bankrupt companies’ retirement plans.

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  Borzi: DOL to Offer New Version of Fiduciary Rule in ‘Several Months’

  By Melanie Waddell, AdvisorOne  |  December 7, 2012

  The DOL plans to repropose its controversial rule to amend the definition of fiduciary under ERISA “in several months,” Phyllis Borzi the DOL’s EBSA, told AdvisorOne on Friday.

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  New Hire Roundup: Mullis Joins Securities America; BlackRock’s New Strategist

  By Marlene Y. Satter, AdvisorOne  |  November 20, 2012

  This week in new hires, Michael Mullis became a registered rep with Securities America; BlackRock named Russ Koesterich its new chief investment strategist; and Michael Davis left EBSA for Prudential.

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  Americans Want Retirement Plan Disclosures on Paper

  By Danielle Andrus, AdvisorOne  |  November 16, 2012

  Believe it or not, a survey released Thursday by AARP found that the majority of respondents prefer to read retirement plan information on paper rather than with electronic media.

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  DOL Slams Ivy Asset Management in $210 Million Madoff Settlement

  By Melanie Waddell, AdvisorOne  |  November 13, 2012

  The DOL announced a settlement with Ivy Asset Management, a unit of the Bank of New York Mellon, in which Ivy will pay $210 million to compensate investors who suffered losses in Bernie Madoff’s Ponzi scheme.

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  Borzi’s Right Hand Man, Davis, Leaves EBSA and Joins Prudential

  By Melanie Waddell, AdvisorOne  |  November 12, 2012

  Michael Davis, Phyllis Borzi’s right hand man at the DOL’s Employee Benefits Security Administration, has left his post as Deputy Assistant Secretary of EBSA and joined Prudential Retirement.

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  ERISA Gurus Reish, Campbell Urge DOL to Create 408(b)(2) ‘Corrections Program’

  By Melanie Waddell, AdvisorOne  |  October 18, 2012

  Such a program would not let "bad actors" evade punishment, they said; rather it would provide a streamlined process with reduced penalties.

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  Obama vs. Romney on Regulation: DOL Fiduciary DOA? Yes or No to SRO? Borzi Gets Boot?

  By Melanie Waddell, AdvisorOne  |  October 18, 2012

  While the regulatory and legislative landscapes remain sketchy until after the election, industry officials say there are some sure bets advisors can count on.

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  How to Prepare for—and Prevent—a DOL Audit

  By Danielle Andrus, AdvisorOne  |  October 17, 2012

  An AXIS Retirement Analytics Platform webinar told covered service providers how to avoid—and prepare for, should it come to that—an audit from the Department of Labor.

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  DOL, SEC Enforcement Roundup: 401(k) Trustees Sentenced for Embezzlement

  By Marlene Y. Satter, AdvisorOne  |  October 5, 2012

  The DOL and the SEC took action recently on a number of cases that included embezzlement and breach of fiduciary duty, illegal tips on M&As, failure to protect confidential information and fraud.