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DOL Argues for Stricter Reading of 'Actual Knowledge' in ERISA Cases
planadviser; registration may be required 
Nov. 6, 2019 "U.S. attorneys have filed a brief with the U.S. Supreme Court arguing that just because a retirement plan participant was delivered or had access to investment disclosures does not mean he had actual knowledge of a breach of fiduciary duty.... The attorneys agree with the 9th Circuit's view that 'the statutory phrase "actual knowledge" means what it says: knowledge that is actual, not merely a possible inference from ambiguous circumstances.' " [Sulyma v. Intel Corp. Investment Policy Comm., No. 17-15864 (9th Cir. Nov. 28, 2018; cert. pet. granted June 10, 2019)] MORE >> |
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