Tag: DOL
Executive Order on Climate Risk Directs DOL to Act on ESG, Proxy Rules by September
President Biden has issued an executive order to advance the Administration’s policy of achieving clear, comparable, and accurate disclosure of climate-related financial risk, acting to mitigate that risk, and achieving...
May 25, 2021
DOL Issues First Ever Cybersecurity Guidance
The DOL’s Employee Benefits Security Administration (EBSA) has issued its first ever cybersecurity guidance to help plan sponsors, fiduciaries, and record keepers protect plan participants and assets from both internal...
April 16, 2021
Tags: Cybersecurity, DOL, Retirement Plans
DOL Issues FAQs for Firms, Guidance for Investors on Fiduciary Exemption
Less than two months after allowing the Department of Labor’s new Fiduciary Exemption to take effect, the DOL’s Employee Benefits Security Administration (EBSA) has issued a set of frequently asked...
April 16, 2021
Tags: DOL, ERISA, IRAs, Retirement Plans
DOL Will Not Enforce ESG and Proxy Rules, Pending Agency Review
In a welcome development, the Department of Labor has announced that it intends to revisit the recently adopted ESG rule, “Financial Factors in Selecting Plan Investments,” and proxy rule, “Fiduciary...
March 10, 2021
Tags: DOL, ERISA, ESG, Fiduciary, Proxy Voting
Following Weeks of Speculation, DOL Confirms February 16 Effective Date for Fiduciary Exemption
The Department of Labor (DOL) has issued a press release in which it confirmed that the fiduciary exemption, titled “Improving Investment Advice for Workers and Retirees,” will go effective as...
February 16, 2021
DOL Issues Guidance to Reduce Number of Missing Plan Participants
Calling attention to the fact that many retirement plan participants inadvertently fail to apply for their pension benefits upon retirement, the Department of Labor has issued guidance that describes best...
January 25, 2021
Tags: DOL, ERISA, Retirement Plans
The DOL has adopted a prohibited transaction class exemption to allow investment advice fiduciaries, including investment advisers, to receive compensation for providing fiduciary investment advice, including advice about rollovers, and...
December 21, 2020
Tags: DOL, ERISA, Fiduciary, IRAs, Retirement Plans
Biden Administration Acts Aggressively on Day 1 Regarding Regulatory Process
President Joe Biden was sworn into office on January 20, 2021, and right out of the gate issued several executive orders and presidential actions that in many cases overturned actions...
January 26, 2021
Tags: Compliance, DOL, ERISA, ESG, Executive Order, Fiduciary, Marketing Rule, Proxy Voting
Regulators Release Advance Copies of Form 5500 Annual Report
The DOL and other regulators have released advance copies of the 2020 Form 5500 annual report that is filed by retirement plans, and related instructions. One of the changes noted...
December 21, 2020
Tags: DOL, Retirement Plans, SECURE Act
In another step in the race to finalize rulemakings before the new Administration takes office in January – and despite strong opposition from plan fiduciaries – the DOL has adopted...
December 16, 2020
Tags: DOL, ESG, Proxy, Shareholder Proposals
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