State securities regulators discovered gaps in the firm’s supervisory process, when customers moved from brokerage to advisory accounts and the financial services firm implemented new policies in response to the now-defunct fiduciary rule.
A judge in a Massachusetts state court pointed to concerns about undisclosed product bundling, agent licensing and descriptions of non-insurance products.
Participants in the firm’s $2.9 billion 401(k) plan had sued the company, alleging it failed to regularly monitor plan investments and remove underperforming in-house funds.
Aetna in late December sued 20 major pharmaceutical companies, accusing them of engaging in a conspiracy to fix prices for more than 100 generic medications.
Only 5% of employers allow student loan matching in their 401(k)s, but prevalence is expected to increase in 2025, while there is minimal interest among employers in the $2,500 emergency savings option, according to a new Alight survey.