Been away from the desk for a few days, but not away from my reading, and there’s been a whole series of things in the media that may be of interest to those who read this blog that I have meant to pass along and comment on. I am going to try to post frequent
Fiduciaries
Why You Can Never Generalize When Considering Whether Brokers Are Plan Fiduciaries
By Stephen Rosenberg on
A couple of loyal blog readers have commented that I have veered off a good bit on digressions this past couple weeks, and I can’t deny it – maybe it’s a lawyer’s version of a summer fling. Anyway, today I return to a central focus of this blog, ERISA and, in particular today, investment advisors…
Me and LaRue, and Business Insurance Too
There is an article in Business Insurance magazine this week, the June 25th issue, on the Supreme Court accepting review of the LaRue decision, in which I am quoted. The article is here – subscription required – and if you read it, you will note that it ends on my comment that I expect the…
Common Misperceptions and The Obligations of Plan Sponsors
By Stephen Rosenberg on
I wrote, it seems to me, an awful lot over the last couple of weeks on the question of the fiduciary obligations of plan sponsors and others with regard to the investment selections made by pension funds and the investment choices offered in 401(k) plans. Susan Mangiero has a lot more to say about this…
An Evolution in Fiduciary Standards Means an Increase in Litigation Risk
By Stephen Rosenberg on
My email inbox is often inundated with seminar pitches, book offers, and informational material, much of which, even if it looks valuable, I could never get to unless I decide to give up the practice of law and just read all this stuff full time. Fortunately, though, I can cut through the junk pretty quick…
Divestment and Fiduciary Duties
By Stephen Rosenberg on
Apparently there is something in the air these days about socially responsible investing and the fiduciary obligations of pension fiduciaries. I discussed here, just the other day, the argument that it is not a fiduciary breach to utilize a particular social agenda in investing and the litigation implications of that approach. Susan Mangiero has more…
Socially Responsible Investing and Fiduciary Duties
By Stephen Rosenberg on
Posted in Fiduciaries
Here’s a little twist on an issue we have often discussed on this blog, namely the fiduciary obligations of plan sponsors and other fiduciaries. To what extent does the fiduciary obligation to properly manage and invest fund assets leave room to consider social, environmental or political agendas in selecting investments? This article, by Benjamin…
Supreme Court Rules on Beck v Pace
By Stephen Rosenberg on
I don’t generally like to play first to post, and would rather wait to see what I can add to the discussion of any particular issue before posting on a breaking story. But as I have been watching and waiting for the Supreme Court’s opinion in the ERISA fiduciary duty case of Beck v. Pace…
More on Amaranth and Fiduciaries’ Due Diligence Obligations
By Stephen Rosenberg on
In a post on Friday, I discussed how a large pension fund’s large losses from a hedge fund investment had given rise to litigation between the pension and the hedge fund, as discussed in this post in the WSJ Law Blog, and how it further raised the question of whether the pension plan’s fiduciaries might…
A Thought About Litigation Against Fiduciaries For Hedge Fund Losses
By Stephen Rosenberg on
We’ve talked a lot on this blog about the due diligence obligations of fiduciaries and other advisors to pensions, 401(k) plans and the like when it comes to investment choices. A story yesterday offers the opportunity for a little thought experiment demonstrating why it matters, and why anything less than stringent oversight and investigation of…