Searching Content indexed under Finance and Banking by Littler Mendelson ordered by Published Date Descending.
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Financial Services Employee Fairly Dismissed For Lacking Credibility As A Witness
The Employment Appeal Tribunal has ruled that employers may take credibility as a witness in tribunal proceedings into account when considering the fitness and propriety of individuals
8 Jul 2019
Third Circuit Holds Individual Plaintiffs Lack Standing For Some Alleged Violations Of The FCRA's Pre-Adverse Action Notice Requirement
On September 10, 2018, in Long v. Southeastern Pennsylvania Transportation Authority, the U.S. Court of Appeals for the Third Circuit joined the chorus of recent circuit court opinions tackling the question of ...
United States
5 Oct 2018
FDIC Loosens Restrictions On Hiring Bank Personnel With Criminal Histories
The Federal Deposit Insurance Corporation (FDIC) recently published its final rule on modifications to the Statement of Policy (SOP) for Section 19 of the Federal Deposit Insurance Act
United States
12 Sep 2018
New York State Industrial Board Of Appeals Invalidates New Regulation Governing Payment Of Wages By Direct Deposit Or Debit Card
On February 16, 2017, the New York State Industrial Board of Appeals ("IBA") issued an order revoking changes to New York State's regulation governing employers that pay their employees by direct deposit or debit card.
United States
21 Feb 2017
New Pennsylvania Law Clarifies The Use Of Payroll Debit Cards
On November 4, 2016, Pennsylvania Governor Tom Wolf signed into law a bill that brings the Commonwealth's law regarding payroll debit cards into the 21st century.
United States
16 Nov 2016
New York Implements Regulation Strongly Favoring Payment Of Wages By Check And Discouraging Payment By Direct Deposit And Debit Card
On September 7, 2016, the New York State Department of Labor adopted a final regulation setting the conditions by which employers in New York State can pay wages by direct deposit or by debit card.
United States
13 Sep 2016
Department Of Labor Issues Final Fiduciary Rule
The Department of Labor (DOL) has issued a final rule to re-define who is rendered a "fiduciary" of an employee benefit plan under the Employee Retirement Income Security Act...
United States
11 Apr 2016
Supreme Court Rules Plan Fiduciaries Owe A Fiduciary Duty To Periodically Review Plan Investments
The respondent company sponsored and maintained a 401(k) savings plan ("the Plan").
United States
1 Jun 2015
Department Of Labor Issues Sweeping Fiduciary Rule Proposal
In 2010, the DOL issued its first proposal to protect investors from conflicted advice by rewriting the definition of a fiduciary under ERISA.
United States
23 Apr 2015
EBSA Issues Much-Anticipated Proposed Fiduciary Rule
On April 14, 2015 the Employee Benefits Security Administration unveiled its proposal to re-define who is rendered a "fiduciary" of an employee benefit plan under ERISA by providing investment advice to a plan or its participants or beneficiaries.
United States
15 Apr 2015
Plan Sponsors Must Maintain Documentations For Hardship Distributions And Loans
In a recent "Employee Plan News" issued by the Internal Revenue Service ("IRS"), the IRS emphasized that plan sponsors are ultimately responsible for proper administration of their retirement plan...
United States
8 Apr 2015
Revised Timeframe For Providing Annual Disclosures To Participants Of Participant-Directed Individual Account Plans
The new rule will be effective June 17, 2015, unless significant adverse comment is received by April 20, 2015.
United States
31 Mar 2015
The Supreme Court Sides With The Department Of Labor In "Rulemaking" Challenge
The U.S. Supreme Court handed the U.S. Department of Labor (DOL) a victory in a battle over whether the agency's reversal of its stance on the exempt status of mortgage loan officers was subject to public notice and comment.
United States
13 Mar 2015
The Whistleblower Improvement Act: New Legislation Takes Aim At Dodd-Frank Whistleblower Bounty Provisions
A year after the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank") became law, its new whistleblower incentive and protection provisions are under scrutiny and challenge.
United States
26 Jul 2011
Dodd-Frank And The SEC Final Rule: From Protected Employee To Bounty Hunter
The whistleblower and bounty hunter provisions of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank") make internal auditing, reporting and compliance programs more important than ever for covered employers.
United States
8 Jul 2011
New SOX Decision Expands Scope Of Protection To General Complaints Of Corporate Fraud
On May 25, 2011, the Department of Labor's Administrative Review Board (ARB or "the Board") held that would-be whistleblowers claiming retaliation need not identify fraud with specificity but may engage in protected activity simply by making general complaints.
United States
14 Jun 2011
SEC Issues Proposed Rules Regarding Incentive-Based Compensation Arrangements For Certain Financial Institutions
The Securities and Exchange Commission (SEC) released proposed rules on March 2, 2011, in connection with provisions of the Dodd-Frank Act that prohibit "covered financial institutions" from providing incentive-based compensation that encourages inappropriate risks, by providing either excessive compensation or incentives that could lead to material financial loss to the institution.
United States
25 Mar 2011
Mandatory Shareholder Approval Of Executive Compensation: SEC Releases Final Rules On "Say on Pay"
The recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank") mandates, for publicly traded companies, shareholder advisory votes on compensation packages provided to top executives and on "golden parachute" packages payable in connection with corporate transactions.
United States
7 Mar 2011
Cementing a Trend: Financial Reform Act Dramatically Expands Whistleblower Protections
The newly enacted Dodd-Frank Wall Street Reform and Consumer Protection Act ("DFA") (H.R. 4173), signed into law by President Barack Obama on July 21, 2010, not only creates sweeping new whistleblower protections for employees in the financial services industry, but also significantly broadens existing whistleblower protections far beyond the financial services industry.
United States
4 Aug 2010
Executive Compensation and the Wall Street Reform and Consumer Protection Act
On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (H.R. 4173) (the "Act"), which is intended "to promote the financial stability of the United States by improving accountability and transparency in the financial system" and "to protect the American taxpayer by ending bailouts, to protect consumers from abusive financial services practices, and for other purposes."
United States
26 Jul 2010
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