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Jorden Burt LLP Washington, DC Document Search Results (8) Sort by:  | Unclaimed Benefit Practices under Scrutiny
Kristin A. Shepard; Jorden Burt LLP;
Legal Alert/Article November 28, 2011, previously published on Fall 2011 Scrutiny of insurers’ unclaimed benefit practices has sparked both proposed legislative changes by the national Conference of insurance Legislators’ Life insurance & Financial Planning Committee (the NCOiL Committee) and class action litigation.
| | Seventh Circuit Again Finds That Sponsor's Offering Of Retail Mutual Funds In Defined-Contribution Plan Does Not Run Afoul of ERISA Duties
Waldemar J. Pflepsen, Michael A. Valerio; Jorden Burt LLP;
Legal Alert/Article September 21, 2011, previously published on September 12, 2011 Following its earlier holding in Hecker v. Deere & Co., 556 F.3d 575 (7th Cir. 2009), the United States Court of Appeals for the Seventh Circuit has again rejected ERISA breach of fiduciary duty claims brought against a plan sponsor by plan participants challenging the sponsor's offering of...
| | FINRA Issues Additional Guidance on Social Media
Richard T. Choi, Diane Duhaime, Ann Began Furman; Jorden Burt LLP;
Legal Alert/Article September 7, 2011, previously published on August 24, 2011 On August 18, 2011, FINRA issued Regulatory Notice 11-39 to provide additional guidance on the application of FINRA rules governing communications with the public to social media sites such as Facebook, Twitter, and LinkedIn. The Notice clarifies some of the specific questions that firms have...
| | Revisions to Annuity Disclosure Model Adopted
Ann Young Black, Ann Began Furman, Steven Kass, Kristin A. Shepard; Jorden Burt LLP;
Legal Alert/Article August 12, 2011, previously published on August 4, 2011 On August 3, 2011, the NAIC Life Insurance and Annuities (A) Committee adopted revisions to the Annuity Disclosure Model Regulation, Model 245 ("Annuity Disclosure Model" or "Model"). The revised Annuity Disclosure Model continues to require that consumers be provided a Buyer's...
| | Faber v. Metropolitan Life Insurance Company - MetLife's Use of Retained Asset Accounts Is Not A Breach Of Fiduciary Duty Under ERISA
Waldemar J. Pflepsen, Robin M. Sanders, Irma Reboso Solares; Jorden Burt LLP;
Legal Alert/Article August 12, 2011, previously published on August 9, 2011 On August 5, 2011, the Second Circuit Court of Appeals issued its much-anticipated decision in Faber v. Metropolitan Life Insurance Co., affirming thedismissal of the plaintiff's putative class action that alleged MetLife breached its ERISA fiduciary duties by distributing ERISA-governed life...
| | Iowa Draws Line Between Insurance and Securities Advice
Ann Young Black, Richard T. Choi, Ann Began Furman; Jorden Burt LLP;
Legal Alert/Article July 19, 2011, previously published on July 6, 2011 On June 24, 2011, the Iowa Insurance Division, which regulates insurance and securities, issued identical companion bulletins outlining the permitted and prohibited activities of "Insurance-Only Persons" and "Securities-Only Persons." The bulletins are primarily designed to...
| | The New York State Insurance Department Issues a Directive to Conduct Social Security Death Index Sweeps
Karen A. Benson, Ann Young Black, Steven Kass, Kristin Ann Shepard; Jorden Burt LLP;
Legal Alert/Article July 19, 2011, previously published on July 7, 2011 On July 5th, the New York State Insurance Department announced that all New York authorized life insurers have been sent a Section 308 letter requiring them to initially report by September 30th on the effectiveness of their current procedures for processing death claims. The Department is...
| | Proposed Rulemaking for Florida Annuity Contract Cover Pages
Ann Young Black, Steven Kass, Scott C. Shine; Jorden Burt LLP;
Legal Alert/Article July 19, 2011, previously published on July 15, 2011 On July 13, 2011, the Florida Department of Financial Services, Division of Agent & Agency Services ("DFS"), issued Notice of Proposed Rulemaking for Rule 69B-162.011 (the "Proposed Cover Page Requirement") which sets forth the requirements for annuity contract cover pages....
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