"The [SEC] endorsed [DOL] guidelines governing the proper behavior for fiduciaries who manage company-stock funds in defined contribution plans and who learn that employer stock is 'materially overvalued due to an undisclosed fraud.' The impact of the SEC's comments -- filed in an amicus brief in a stock-drop case, now before the 5th U.S. Circuit Court of Appeals in New Orleans -- will go beyond this single case because it should clarify gray areas that have existed at the intersection of securities laws and [ERISA].... [T]he SEC cited several examples in which ERISA standards and securities laws are in harmony. The [DOL] also filed a separate amicus brief on March 11, outlining the responsibilities of fiduciaries. Both the SEC and DOL documents were filed in support of the plaintiffs." [Whitley v. BP P.L.C., No. 10-cv-4214 (S.D. Tex. Oct. 30, 2015; on appeal to 5th Cir.)]  MORE >>