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Perth Now
5 days ago
- Automotive
- Perth Now
Mercedes-Benz GLE and GLS recalled
Mercedes-Benz is recalling a handful of GLE and GLS large SUVs due to an issue that could prevent their safety technologies from working properly. 'Due to a manufacturing defect, the multi-purpose camera and/or the interior rear-view mirror on the windscreen may not have been bonded correctly and could detach,' the company says in its recall notice. 'If this occurs, the advanced driver assistance systems may not operate as intended and the driver's rear vision may be impaired. 'A loss of these systems or an impaired rear vision could increase the risk of an accident, causing serious injury or death vehicle occupants, other road users and any persons located behind the vehicle.' Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Supplied Credit: CarExpert A total of five vehicles are affected from 2024 The Vehicle Identification Number (VIN) list is attached here The original recall notice is attached here If you own an affected vehicle, you'll need to make an appointment with a Mercedes-Benz dealership to have the free fix carried out. If you have any further questions, you can contact the Mercedes-Benz Customer Assistance Centre on 1300 762 718. MORE: Everything Mercedes-Benz GLE • GLS
Forbes
12-06-2025
- Business
- Forbes
Here's Why You Should Be Wary Of 401(k) Crypto Options
It seems you can't avoid crypto. It's everywhere. In ads. On X posts. And, maybe soon, in your 401(k). But is that a good thing? If you're thinking of dipping your toe into this undeniable buzz, it's crucial you conduct a little due diligence. Professional fiduciaries have been pondering the enigma wrapped in a mystery that calls itself cryptocurrency. What are their feelings about this highly volatile and complex digital asset? Why have so many been so reticent about adding this asset class to portfolios? How might their thoughts inform you? Like any other hot investment, you only see the headlines trumpeting the good news. After all, no one ever goes to a cocktail party and enthusiastically brags, 'You won't believe how much money I lost on this stock!' The truth is, what goes up often goes down. And what goes up dramatically can just as quickly go down dramatically. It's this downside that most alarms (or should alarm) retirement savers. For this reason, the Department of Labor issued a release in 2022 that told 401(k) plan sponsors to proceed carefully before offering investment options based on digital currencies. 'The DOL's Compliance Assistance Release No. 2022-01 cautioned plan fiduciaries to use extreme care when deciding whether to offer 401(k) plan participants cryptocurrency investment options,' says Michelle Capezza, of counsel at Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. in New York City. 'EBSA raised many concerns, including the possibility of fraud, the speculative and volatile nature of these investments, valuation, custodial and recordkeeping challenges, and difficulty for participants to make informed decisions. EBSA also warned about conducting investigations of plans that offered such investment options and questioned plan fiduciaries on their decisions to offer them in the plan. So, even though financial institutions brought products to market to facilitate these investments, including through digital asset accounts designed to address custody and cybersecurity issues, and through brokerage window models, the DOL guidance had a chilling effect on many plan fiduciaries and raised questions concerning whether they were subject to a new, heightened standard of extreme care review for cryptocurrency investments.' Set aside the idea that this is about digital assets. Think instead about highly volatile stocks. As you approach retirement, you're more appreciative of certainty. The last thing you want is for your retirement savings to take a sudden drop just when you need to start withdrawing funds. That's the way fiduciaries think. They look out for what's best for you. It's what being prudent is all about. Now, there are those who feel it's one thing for a professional you willingly hire to take that demeanor. On the other hand, having the government tell you what to do? That just rankles some the wrong way. In effect, the DOL's 2022 advice merely reiterated what every fiduciary should always do. When the DOL recently rescinded that ruling, it did not remove that duty. The hurdles for adding cryptocurrency to 401(k) investment menus remain today as they always have. 'DOL has now issued Compliance Assistance Release 2025-01, formally rescinding the prior release and, importantly, reaffirming for fiduciaries the legal framework governing the evaluation of what particular investments should be included within a 401(k) plan,' says Max Fuller, senior director of government solutions, TaxBit in Denver, Colorado. 'While the rescission is great, I am not sure it will result in the floodgates being opened for direct crypto investment within 401(k) plans just yet.' It is this 'extreme care' requirement that has fiduciaries walking on eggshells. 'The new guidance opens up a Pandora's box of questions,' says Lyle Himebaugh, managing partner at GGA Retirement in Stamford, Connecticut. 'The first question is liability. I would imagine that most 3(38) investment fiduciaries are not equipped to do due diligence and therefore would not take on the liability.' If fiduciaries continue to shy away from crypto, does that raise a red flag for you? Sure, they might be more concerned about potential liabilities than you might be. But that's precisely where the red flag pops up. Why? The purpose of 401(k) plans is to provide long-term growth and, eventually, stability. This clashes with the inherent volatile nature of cryptocurrencies. The crypto risk magnifies as you approach retirement. But you can realize it at any age. 'Given turnover rates and the volatility of closing prices, there is considerable risk that participants would realize a loss when assets are distributed at separation,' says J. M. 'Jack' Towarnicky, of counsel at Koehler Fitzgerald, LLC in Powell, Ohio. This is the big challenge with cryptocurrencies. They're on 24/7. If you invest in them, you'll have to be on your toes, ever watchful of what's happening in their markets. With digital assets like these, there are no 'closing bells.' Their prices can move at any time, day or night. Still, the positive shift in the regulatory tone means crypto fans may advocate for these investments to be included in their 401(k) plans. While plan sponsors may bow to these demands, their service providers are likely to remain skeptical. 'I am sure some investment fiduciaries will put them in the plan,' says Himebaugh, 'but there are so many unforeseen and incalculable risks that it will have a mild impact.' Because of these issues, don't be surprised if digital assets fail to become a mainstream 401(k) option as quickly as some hope. For one thing, it's not just a decision of whether to include them, it's how to include them. 'The challenges will the same as any asset class consideration,' says Jason Grantz, CEO of Integrated Pension Group in Highland Park, New Jersey. 'They'll have to prudently decide that having crypto available in plans is in the best interest of the participants, without conflict and not solely to appease a small handful of employees who might be clamoring for it. If the asset class does get added, the second hurdle will be even more daunting, which is to decide on which crypt or to simply offer a crypto fund, and that will need to pass Investment Policy criteria like other fund offerings.' There's clearly retail interest in digital assets. It would not be a surprise if that interest spills over into the 401(k) realm. The rescission of the DOL's 2022 advice makes it harder for plan sponsors and their advisers to quickly rule out including cryptocurrency products on the plan's investment menu. The new DOL guidance, however, doesn't remove the best interest standards when evaluating the appropriateness of adding such investments to retirement plans. 'Fiduciaries now face the usual significant challenges in evaluating cryptocurrencies for 401(k) plans,' says Jonathan Rose, CEO of BlockTrust IRA in Beverly Hills, California. 'Issues like volatility, valuation uncertainty, custody risks, and changing regulatory oversight will be the focus, although each of these respective topics are making massive strides. The primary challenge fiduciaries will now face is a lack of experience in the cryptocurrency market itself, as demand from their clients increases. Many retail investors, 401(k) investors in particular, are looking for a solution that offers the unmatched upside of the crypto market with a minimized risk profile.' Are professional fiduciaries the only ones wary of 401(k) crypto? Like annuities, the actual interest in these investments may be smaller than headlines would suggest. 'Prior to the 2022 guidance,' says Towarnicky, 'according to a GAO report, no surveyed 401(k) plan had added crypto as a core option, or a window to a crypto asset trading program, and less than 6 in 10,000 401(k) plans (about 300 total) offered crypto via self-directed brokerage windows.' The regulatory bias against 401(k) crypto may be lifting, but that doesn't mean the fog has dissipated. The underlying risks remain significant. While the DOL has removed its heavy hand, it has not eliminated the fiduciary duty that goes with ERISA plans. Cryptocurrencies expose investors to extreme volatility and difficult pricing mechanisms. The potential for losses at distribution is very real. Does that mean you shouldn't invest a portion of your retirement assets in them? As with all investments, the decision depends on your individual circumstances. Making prudent decisions is the key, as the elements surrounding both your personal conditions and the cryptocurrency market are ever-changing.
Yahoo
29-05-2025
- Business
- Yahoo
Insurance experts available to help Manitoba residents affected by wildfire
Insurance Bureau of Canada offers helpline for affected residents EDMONTON, AB, May 29, 2025 /CNW/ - Due to out-of-control wildfires in northern Manitoba, which have forced the evacuation of approximately 17,000 residents and prompted a provincewide state of emergency, Insurance Bureau of Canada (IBC) has deployed its Virtual Community Assistance Mobile Pavilion (V-CAMP) to provide insurance information to affected residents. "Our hearts go out to the individuals and families whose lives have been disrupted by these fires. We thank all the first responders and emergency officials who have been working so diligently to protect lives and property," said Aaron Sutherland, Vice-President, Pacific and Western, IBC. "The situation is extremely concerning, and we want to make sure those being evacuated from their homes can easily access the insurance supports they need at this difficult time. Manitoba's insurers are committed to protecting your tomorrow, by standing with you today." IBC is in close contact with provincial government and emergency management officials, as well as with municipal officials in the affected communities. This situation is changing rapidly. Insurers serve as "second responders" in the recovery period after catastrophe strikes. IBC's V-CAMP is staffed with trained insurance industry personnel at IBC's Consumer Information Centre at 1-844-2ask-IBC (1-844-227-5422) and AskIBCWest@ to help address consumers' general questions about their home, business or vehicle insurance policies. This includes questions about Additional Living Expenses for those who have been evacuated. Affected residents can also visit IBC's Wildfires & Insurance webpage to learn more about insurance and the various stages of the claims process. When the Smoke Clears . . . What's Covered? Home insurance policies cover damage caused by fire, even if the fire began on a neighbouring property, as long as the fire was not started intentionally by the policy holder. All standard home insurance policies cover additional living expenses (ALE). If you've been ordered by a civil or provincial authority to leave your home, keep the receipts for your living expenses (for example, hotel costs). Most homeowner's and tenant's insurance policies cover any reasonable additional living expenses for a specified period of time. Ask your insurance representative about the amount of living expenses you're entitled to claim. Tips for Starting the Claims Process Call your insurance representative as soon as possible. Most insurers have a 24-hour claims service. Be as detailed as possible when providing information. When it is safe to do so, list all damaged or destroyed items. If possible, assemble proofs of purchase, photos, receipts and warranties. Take photos of damage incurred and keep damaged items, unless they pose a health hazard. Keep all receipts related to cleanup and living expenses if you've been displaced. Ask your insurance representative about what coverage for expenses you may be entitled to and for what period of time. Seasonal or secondary residences When it is safe to do so, check any seasonal or secondary residences (e.g., cottages) and report any damage to your insurance representative as soon as possible. Policies for these properties may have different coverage or limits than a primary home insurance policy. Review your policy or check with your insurance professional to confirm your coverage. About Insurance Bureau of Canada Established in 1964, Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up the vast majority of Canada's highly competitive property and casualty (P&C) insurance market. As the leading advocate for Canada's private P&C insurers, IBC collaborates with governments, regulators and stakeholders to support a competitive environment for the P&C insurance industry to continue to help protect Canadians from the risks of today and tomorrow. IBC believes that Canadians value and deserve a responsive and resilient private P&C insurance industry that provides insurance solutions to both individuals and businesses. For media releases, IN Focus articles, or to book an interview with an IBC representative, visit Follow us on LinkedIn, X and Instagram, and like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC. We're here to help. SOURCE Insurance Bureau of Canada View original content to download multimedia: Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Hindu
28-05-2025
- General
- The Hindu
Virudhunagar district administration warns colleges of stringent action if they withhold original certificates of students against their wish
Virudhunagar district administration has warned schools and colleges of stringent action if educational institutions refuse to hand over original certificates to students during the admission season. In a statement, Collector V.P. Jeyaseelan said that the State government was keen on facilitating students who have passed Plus Two examination in joining government institutions of higher education based on their qualifications. Students in the district were applying for admission to more than one educational institutions based on their marks. The Collector pointed out that some of the private educational institutions were collecting the original certificates from the students for admitting them to their institutions. 'The district control room has been receiving complaints from students that some students, who get admission to government colleges and other government institutions of higher education, were being denied their certificates by the private colleges,' the Collector said. He said that the district administration would initiate action against such educational institutions. Students who need any assistance from the district administration on such issues can contact he Educational Assistance Control Room set up at the Collectorate over 86082-04154, he added.
Yahoo
14-05-2025
- Politics
- Yahoo
Arkansas' request for federal disaster assistance approved after initial denial
Gov. Sarah Huckabee Sanders and First Gentleman Bryan Sanders survey storm damage in Cave City on Saturday, March 15, 2025. (Photo by Becca Paschal/Arkansas Governor's Office) President Donald Trump approved a major disaster declaration for Arkansas Tuesday after denying the request last month. Federal disaster assistance is available to Arkansans in Green, Hot Spring, Independence, Izard, Jackson, Lawrence, Randolph, Sharp and Stone counties who were affected by severe storms and tornadoes March 14-15, according to a press release issued by the Federal Emergency Management Agency (FEMA) Tuesday night. Assistance can include grants for temporary housing and home repairs, low-interest loans to cover uninsured property losses and other programs to help individuals and business owners with their recovery efforts, according to the release. The president issued the disaster declaration after a call with Gov. Sarah Huckabee Sanders, according to a statement issued by the governor's office late Tuesday. 'Our entire state is grateful for President Trump's leadership and assistance as we recover from the devastating storms that struck Arkansas earlier this spring,' Sanders said. 'I had a productive conversation with the President in which he expressed his support for our state and I offered my full endorsement of his plans to reform FEMA to save money and provide greater direct assistance to disaster victims.' Arkansas governor seeks federal disaster decree for March 14-15 tornadoes, storms Trump has convened a council to review and recommend 'improvements or structural changes' to FEMA, and suggested the agency might 'go away.' He has also said states would best take care of disasters on their own, with the federal government reimbursing some of the costs. Under Trump, FEMA has denied federal assistance to Arkansas, West Virginia and Washington state, and refused North Carolina's request for extended relief funding following Hurricane Helene, according to Stateline. Sanders requested Major Disaster Relief for Arkansas on April 2. The state received a denial from the federal government regarding Individual Assistance funding through FEMA on April 11, according to the Arkansas Division of Emergency Management. Sanders sent a letter appealing the denial on April 18. 'Arkansas communities are still recovering from this spring's tornadoes, as the sheer magnitude of this event resulted in overwhelming amounts of debris, widespread destruction to homes and businesses, the tragic loss of three lives, and injuries to many others,' Sanders said in a statement last month. 'To relieve the burden on these counties, cities, and towns, I am appealing FEMA's decision to deny Arkansas' Major Disaster Declaration request.' Individuals and business owners in the designated counties who sustained losses can apply for assistance by registering online, using the FEMA App or calling 1-800-621-3362. SUPPORT: YOU MAKE OUR WORK POSSIBLE
