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SEI Agrees to Pay $6.8 Million to Settle Self-Dealing Suit
planadviser; registration may be required 
July 31, 2019
"According to the Settlement Agreement, the defendants will pay $6.8 million to a Qualified Settlement Fund. In addition, SEI agrees that ... [1] Defendants shall retain the services of an unaffiliated investment consultant to provide an evaluation of the design of the plan’s investment lineup and to review the plan’s investment policy statement; [2] SEI shall continue to pay all recordkeeping fees associated with the plan that it is currently paying and that would otherwise be payable from plan assets; and [3] SEI shall ensure that all of the plan’s investment committee members will participate in a training session on ERISA’s fiduciary duties."
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