7 results found
Cadwalader Wickersham & Taft LLP | USA | 31 Aug 2010
The DOL adopts Interim Final Regulation under ERISA Section 408(b)(2) relating to service provider fee disclosures
On July 16, 2010 the DOL published an interim final regulation (the "Interim Final Regulation") (75 FR 41599) clarifying that a certain level of disclosure with respect to compensation and potential conflicts of interest is necessary in order for a plan fiduciary to determine that a contract or arrangement for services by a party in interest to a plan is "reasonable."
Cadwalader Wickersham & Taft LLP | USA | 16 Oct 2008
The DOL issues final rule under ERISA Section 408(b)(19) statutory exemption for cross-trading of securities
On October 7, 2008, the Department of Labor (“DOL”) published a final rule implementing content requirements for disclosure required under the cross-trading exemption in Section 408(b)(19) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
Cadwalader Wickersham & Taft LLP | USA | 31 May 2008
Mandatory subordination of claims under Section 510(b): three new Delaware decisions
Section 510(b) of the Bankruptcy Code provides that claims for “damages arising from the purchase or sale of . . . a security” of the debtor or an affiliate of the debtor are subordinated to any claims not based on stock.
Cadwalader Wickersham & Taft LLP | USA | 15 Jan 2008
The DOL’s proposed amendment to regulation under ERISA Section 408(b)(2) relating to service provider fee disclosures
Section 406(a)(1)(C) of the Employee Retirement Income Security Act of 1974, as amended (ERISA), prohibits the furnishing of services between an ERISA plan and a party in interest to the plan, such as someone who is already a service provider or an affiliate thereof, unless there is an applicable exemption.
Cadwalader Wickersham & Taft LLP | USA | 14 Jan 2008
Cadwalader successfully concludes cases
Cadwalader’s Litigation Department recently secured summary judgment for Pfizer and Pharmacia and a settlement for Bear, Stearns & Co. that entailed a positive result for the client.
Cadwalader Wickersham & Taft LLP | USA | 21 Sep 2007
Margin payments are reclaimed through avoidance action: new duties imposed regarding brokerage firm’s obligation to investigate account party
While the Bankruptcy Code’s safe harbor provision in section 546(e) previously provided comfort for brokerdealers, the Bankruptcy Court’s decision in Gredd v. Bear, Stearns Securities Corp. (In re Manhattan Investment Fund, Ltd.), 359 B.R. 510 (Bankr. S.D.N.Y. 2007), chips away at this provision and creates new risks for those providing brokerage account services.
Cadwalader Wickersham & Taft LLP | USA | 5 Dec 2006
2006 securities litigation wins continue
Cadwalader’s Securities Litigation Group continued a long-standing series of victories, winning dismissals in several cases in 2006.