DOL Says It Won’t Enforce Final Rules on ESG and Proxy Voting
The department says it will not pursue enforcement actions against any plan fiduciary for failure to comply, and it plans to release further guidance on the issues.
Tag: Department of Labor (DOL)
The Importance of EBSA Disaster Relief Notice 2021-01
The prescheduled phase-out of the coronavirus disaster declaration had created a ‘compliance conundrum,’ which the DOL has now addressed by issuing additional guidance.
Reading Into the SEC’s 2021 Enforcement Priorities
The ongoing implementation of Regulation Best Interest gets top billing in the SEC’s recently published 2021 examination priorities list, though...
ERISA vista
The Latest Word on ESG
In terms of plan investing, fiduciary duty continues to come first.
DOL Confirms Fiduciary Prohibited Transaction Exemption Will Stand, For Now
In the coming days, the agency will publish related guidance for retirement investors, employee benefit plans and investment advice providers.
DOL Notifies Court It No Longer Supports Lawsuit Against CalSavers
A court filing cites the change in administration as the reason for backing out of the suit.
Walsh Signals Potential DOL Priorities in Confirmation Hearing
The labor secretary nominee spoke proudly of his labor roots and his ties to Boston, while responding to varied questions...
DOL Secretary Nominee Walsh Faces Senate Hearing This Week
Sources say Marty Walsh’s long-term ties to organized labor will likely be a main topic of discussion at the forthcoming confirmation hearings, but pension issues and retirement security...
DOL Q&A: What’s Next with ESG, Fiduciary and Proxy Regs?
The path ahead is clearer for insurance producers and fiduciary investment advisers compared with the potential ambiguities facing broker/dealers, says...
DOL Missing Participant Guidance Not a List of Requirements
Plan fiduciaries will have to decide which suggestions fit their situations, and there are a few questions left unanswered, sources...
New DOL ESG Guidance Expected to Encourage More Plan Adoption
TIAA says a variable annuity and mutual funds that take an ESG approach are widely used on its retirement plan platforms.
Missing Participant Guidance Released by DOL
The guidance includes best practices for locating missing participants in addition to best practices for documenting efforts to do so.
Biden Administration to Nominate Marty Walsh as Secretary of Labor
The second-term mayor of Boston is known for fighting for a higher minimum wage and for being a long-term union member who is outspoken about the role of...
Key DOL Prohibited Transaction Exemption Considerations
Everyone is initially eligible for the DOL’s new prohibited transaction exemption, though the regulator reserves the right to suspend eligibility for up to 10 years after certain violations.
DOL Reconsiders Who Can Be Considered a Fiduciary
This makes its new prohibited transaction exemption all the more important, according to attorneys with Groom Law Group.
DOL Publishes Final Fiduciary Prohibited Transaction Exemption
The final rule confirms the reinstatement of the traditional five-part test for determining fiduciary status, though it does not definitively state that advice regarding IRA rollovers necessarily triggers...
Publisher’s Note
What a Year!
With so many bigger issues facing the country, much has happened that almost seems unnoticed.
ERISA vista
The DOL’s Latest Proposed PTE
How advisers who only do rollovers would avoid prohibited transactions.