Benjamin Saper
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On June 29, 2017, the Department of Labor (“DOL”) requested another round of public comment on its fiduciary rule—this time in the form of a Request (“RFI”) for Information. The RFI seeks input on (a) whether to extend the January 1, 2018, applicability date for parts of the rule that are not yet in effect, and … Continue Reading
The Department of Labor has announced that the new fiduciary conflict of interest rule and related exemptions will begin taking effect on June 9, 2017, ending speculation of further delay. At the same time, the Department announced a relaxed enforcement standard for the rest of 2017. See our blog post on the delayed effective date … Continue Reading
On the heels of the Department of Labor’s temporary enforcement policy concerning the DOL conflict of interest rule and related exemptions (see our blog post here), the IRS announced that it is providing relief from excise taxes under Code § 4975 that conforms to the DOL’s temporary enforcement policy described in FAB 2017-01. The IRS’s action … Continue Reading
On March 20, 2017, a federal court in the Northern District of Texas denied the U.S. Chamber of Commerce’s emergency motion for an injunction pending appeal challenging implementation of the Department’s conflict of interest rule and related exemptions. The court applied the standard for evaluating a preliminary injunction motion and concluded that: (i) the Department already … Continue Reading
On March 1, 2017, the U.S. Department of Labor proposed a 60-day delay of the conflict of interest rule and related exemptions (currently set to be applicable on April 10, 2017). The Department opened two comment periods related to the rule: A 15-day comment period (ending March 17, 2017) on whether enforcement of the rule … Continue Reading
On February 17, 2017, a federal district Court in Kansas upheld the U.S. Department of Labor’s conflict of interest rule and related exemptions in a suit brought by Market Synergy Group, Inc. This ruling on the merits follows the court’s prior ruling in November 2016 denying Market Synergy Group’s request for a temporary injunction. The … Continue Reading
There were two key developments last week concerning the ongoing challenges to the U.S. Department of Labor (USDOL) conflict of interest rule and related exemptions: a Presidential Memorandum calling for a review of the rule, and a ruling by a federal court in Texas rejecting the U.S. Chamber of Commerce’s challenges to the rule. Presidential … Continue Reading
On December 15, 2016, the U.S. Court of Appeals for the District of Columbia Circuit denied the emergency request from the National Association for Fixed Annuities (“NAFA”) for an injunction blocking the implementation of the Department of Labor’s conflict of interest rule and related exemptions. Nat’l Ass’n for Fixed Annuities v. U.S. Dep’t of Labor, … Continue Reading
On November 28, 2016, Judge Crabtree in the U.S. District Court for the District of Kansas ruled in favor of the U.S. Department of Labor and denied the motion for a preliminary injunction filed by the Market Synergy Group, Inc., challenging implementation of the Department’s conflict of interest rule and related exemptions. Mkt. Synergy Grp., … Continue Reading
On November 23, 2016, Judge Moss in the U.S. District Court for the District of Columbia again ruled in favor of the Department and denied the renewed motion for a preliminary injunction brought by the National Association for Fixed Annuities (“NAFA”) challenging implementation of the Department’s conflict of interest rule and related exemptions. Nat’l Ass’n … Continue Reading
On November 4, 2016, Judge Moss in the U.S. District Court for the District of Columbia granted the U.S. Department of Labor’s motion for summary judgment and dismissed claims brought by the National Association for Fixed Annuities (“NAFA”) challenging the Department’s conflict of interest rule and related exemptions. Nat’l Ass’n for Fixed Annuities v. Perez, … Continue Reading
In this update on the litigation challenging the U.S. Department of Labor’s new fiduciary rule, we note that there has been a sixth lawsuit filed and oral arguments in two other cases. (Our previous reports are available here, and our Client Alert on the new rule is available here.) Thrivent Financial for Lutherans, a Christian … Continue Reading
As we previously reported, there are five pending lawsuits challenging the U.S. Department of Labor’s new fiduciary rule. Our Client Alert on the new rule outlines the significance of the rule and the implications of the expanded definition of “fiduciary” for investment advisors and other related service providers. First, with respect to the litigation pending … Continue Reading
As we previously reported here, there have been five lawsuits challenging the U.S. Department of Labor’s new fiduciary rule. (Our Client Alert on the new rule is available here.) On July 8, 2016, the U.S. Department of Labor (DOL) filed its first formal response to these lawsuits in The National Association for Fixed Annuities v. … Continue Reading
On April 6, 2016, the U.S. Department of Labor released its Final Rule addressing when a person providing services to an employee benefit plan or individual retirement account (IRA) is considered to be providing investment advice that is subject to ERISA’s fiduciary standard. As discussed in our Client Alert, available here, the rule expanded the … Continue Reading
A federal district court in New York enforced an ERISA retirement plan’s forum selection clause and transferred the case to the District of New Jersey. The plaintiff argued that the forum selection clause was invalid because it conflicted with ERISA’s venue provision, which provides that an ERISA action “may be brought in the district where … Continue Reading
As part of its requirement that non-grandfathered group health plans provide benefits for certain preventive care without cost sharing, the Affordable Care Act (“ACA”) requires these plans to cover at least one form of women’s contraception in each of the 18 methods identified by the Food and Drug Administration. The U.S. Supreme Court previously ruled … Continue Reading
A federal district court in Tennessee ruled that ERISA did not preempt state law claims for short-term disability benefits because the short-term disability plan fell under the “payroll practice” exception of ERISA. LeBlanc v. SunTrust Bank, No. 3:15-cv-00630 (M.D. Tenn. Aug. 24, 2015). SunTrust provided employees with short-term disability benefits for up to 25 weeks … Continue Reading
DOL Again Seeks Comments on New Fiduciary Rules and Exemptions
By Seth Safra, Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
Department of Labor’s New Fiduciary Rule Will Go Into Effect June 9th
By Russell Hirschhorn, Seth Safra and Benjamin Saper on Posted in Fiduciary
IRS Issues Temporary Enforcement Policy In Line with DOL FAB 2017-01
By Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
No Emergency Injunction Appeal in Chamber’s Challenge to DOL Rule
By Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
U.S. DOL Proposes Delay of Conflict of Interest Rule and Related Exemptions
By Russell Hirschhorn, Seth Safra and Benjamin Saper on Posted in Department of Labor, Fiduciary
USDOL Prevails in Kansas in Another Decision on Fiduciary Rule
By Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
Update on the USDOL Conflict of Interest Rule and Related Exemptions
By Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
D.C. Court of Appeals Denies Emergency Request to Halt Conflict of Interest Rule and Related Exemptions
By Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
DOL Prevails in Kansas Litigation Challenging Conflict of Interest Rule and Related Exemptions
By Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
DOL Prevails Again and NAFA Moves on to the Circuit Court Challenging the Conflict of Interest Rule and Related Exemptions
By Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
DOL Prevails In First Challenge to the Conflict of Interest Rule and Related Exemptions
By Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
Update on Lawsuits Challenging the U.S. Department of Labor’s Fiduciary Rule
By Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
Update on Lawsuits Challenging the U.S. Department of Labor’s Fiduciary Rule
By Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
Update on Lawsuits Challenging the U.S. Department of Labor’s Fiduciary Rule
By Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
Lawsuits Filed Challenging The USDOL’s Final Fiduciary Rules
By Russell Hirschhorn and Benjamin Saper on Posted in Fiduciary
Court Enforces Forum Selection Clause in ERISA Plan
By Benjamin Saper on Posted in Venue
Supreme Court Agrees to Hear Contraceptive Mandate Cases
By Benjamin Saper on Posted in Affordable Care Act
State Law Claims for Short-Term Disability Benefits Not Preempted By ERISA
By Benjamin Saper on Posted in Preemption
