Under the newly announced organizational structure of EBSA, units that had reported to to the deputy assistant secretary for program operations, career official Timothy Hauser, will instead report to a political appointee.
Louis Campagna of the Department of Labor's Employee Benefits Security Administration said on February 2 that when it re-proposes its regulation on plan fiduciaries it will focus on appraisals that are used in transactions.
In an article in the BNA Pension & Benefits Reporter, Jacklyn Wille notes that the Department of Labor filed more amicus briefs about employee stock than on any other topic.
Recently, I got a call from a financial advisor. His client was thinking of setting up an ESOP as a business transition tool for a $15 million company. The client had been approached by a New York investment banking company that quoted them a fee of three percent of the transaction.
An NCEO staffer notes that at his gym, there is a suggestion box prominently by the door. The box has a note on it (and has for some time) saying that suggestions placed in the box will not be reviewed.
One effect of the dramatic decline in the stock of China's publicly traded companies has been to cause substantial losses for employees who participated in stock purchase programs.
In the last few months, we have been asked to take a look at some draft equity compensation plans in closely held companies. Each was drawn up by an attorney with limited experience doing this. Each had major technical issues that could cause problems down the line.
