Wilshire and Mercer IC confirm DoL subpoenas
US - Wilshire Associates and Mercer Investment Consulting have confirmed they have been asked to provide information to the US Department of Labour (DoL), which is investigating pension consultants for possible violations of fiduciary responsibilities under the Employee Retirement Income Security Act.
The DoL refused to comment on the ongoing investigation, but sources confirmed DoL’s Employee Benefits Security Admin-istration (EBSA) has asked its regional offices to examine 13 pension consultants that...
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