High Court Denies Review Of Ruling Finding Nonfiduciary Liability

High Court Denies Review Of Ruling Finding Nonfiduciary Liability

WASHINGTON, D.C. - The U.S. Supreme Court on April 15 declined to review a Third Circuit U.S. Court of Appeals ruling that a nonfiduciary financial planner who marketed a tax avoidance scheme as a multiple-employer welfare arrangement (MEWA) to several employers is liable under Employee Retirement Income Security Act Section 502(a)(3) for knowingly participating in a prohibited transaction in connection with the MEWA (James W. Barrett v. Universal Mailing Service, Inc., et al., No. 12-975, U.S. Sup.).

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