M5 Midstream LLC

Multiple national-level conflict of interest rules are now aligned that will require financial professionals to act in the best interest of consumers.

A payment of $9 million will be made to “fully, finally and forever resolve, discharge and settle the released claims.”

The lawsuit argues that while the TDFs in the plan are CITs, they are private label CITs with much higher expense ratios than the typical CITs offered by JPMorgan.

The complaint calls out the warehouse club's use of "more costly ‘actively managed funds’ rather than ‘index funds’ that offered equal or better performance at substantially lower cost."

It is not all doom and gloom for plan sponsors and participants who want these investments. Here’s what advisers should know about the new rules proposed by the Department of Labor (DOL).