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First Circuit Finds Collection of Infrastructure Fees Does Not Create ERISA Fiduciary Relationship
Roberts Disability LawLink to more items from this source
Mar. 8, 2021

"The court found that the relevant contracts do not enable Fidelity to unilaterally change its investment management and administrative charges.... The court found that Fidelity's responsibilities as a directed trustee do not extend to its charging of an infrastructure fee. " [In re Fidelity ERISA Fee Litigation, Wong v. FMR LLC, No. 20-1286 (1st Cir. Mar. 5, 2021)]

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