During the blackout period
, the 401(k) plan would fail to meet the ERISA section 404(c) safe harbor requirement to provide for a broad range of investment options.
A company must provide notice to a participant (including a beneficiary) who self-directs investment of plan assets in a defined contribution plan and is affected by the blackout period
. It must also provide "timely" notice to the issuer of any employer securities held by a plan subject to the blackout provisions.
In either case, the fiduciaries could be liable for losses participants suffer during the blackout period
. The best course of action is to monitor the investments even more closely than usual, so you can make changes quickly if performance drops.
('PetroShale' or the 'Company') (TSXV: PSH, OTCQX: PSHIF) announced today that it has received approval from the TSX Venture Exchange ('TSXV') to invoke automatic purchases of its common shares ('Shares') under its current normal course issuer bid ('NCIB') during the Corporation's internal blackout period
for its upcoming financial quarter.
Fedspeak is out of its blackout period
and Chair Powell headlines a list of key players who will be at the podium on Tuesday.
The plan enables shares to be purchased during an otherwise self-imposed blackout period
between the fifteenth day of the last month of the quarter and the reporting of the company's financial results.
There is a blackout period
from 14 to 22 February, inclusive.
EBay surged 6% after an earnings beat, while Electronic Arts stumbled 4.5% after a revenue miss from a delayed launch of "Battlefield V." Fedspeak has gone quiet heading into the blackout period
for next week's FOMC decision, though it will hold an "open meeting" today on prudential rules for large banks.