Embattled DOL ESG Rule Receives Democratic Congressional Support
A DOL rule permitting ESG considerations in retirement plan investing has been challenged by two separate lawsuits. House Democrats are...
Tag: Department of Labor (DOL)
Legal Complaint Says DOL’s ESG Rule “Jeopardizes” Retirement Savers
A second lawsuit in less than a month has been brought challenging the legality of the DOL’s rule concerning ESG...
Expert: Advisers Should Pause on DOL Rollover Guidance Despite Court Reversal
In the meantime, legal experts discourage advisers from violating it in case it is re-instated.
Senator Pushes For Crypto Option in 401(k) Plans
Republican Senator Tommy Tuberville reintroduced a bill pushing back on DOL guidance that limits 401(k) providers offering crypto in plans.
Labor Secretary Walsh Departing to Lead NHL Player Union
The DOL confirmed reports that Walsh will depart in mid-March; deputy secretary Julie Su will serve as acting secretary.
Federal Judge Nixes DOL Rollover Guidance Interpretation
A U.S. District Court judge ruled that Department of Labor guidance violated the Administrative Procedure Act.
DOL: More Time to Comment on Fiduciary Correction Program
The Department of Labor has extended the public comment period for a program that would allow fiduciaries to self-correct for...
DOL Secretary Walsh Reportedly Leading Candidate to Helm NHL Players’ Association
The approval of Walsh to head the NHLPA is considered a “formality.”
Republican States Challenge DOL ESG Rule in Court
A 2022 DOL rule clarifying that ESG strategy can be used in fiduciary decisions was challenged by 25 states in...
States’ Suit Could Delay DOL Rule on ESG Investing
Rule to permit ESG considerations is due to take effect on Monday, but a federal lawsuit aims to derail it.
Regulatory and Statutory Changes Coming to Self-Corrections Programs
Plans will find more room to correct their own mistakes under SECURE 2.0 and a DOL proposed rule change.
DOL Contractor Rule Threatened by 20% Adviser Quit Rate
An FSI survey shows independent advisers would retire before being classified as employee as the DOL mulls tens of thousands...
Sports Agency Owner Charged for Allegedly Stealing Retirement Assets
The Houston-based sports agent was served a civil suit by the Department of Labor for allegedly dipping into employee retirement...
DOL to Consult Industry on How To “Facilitate” PEP Uptake
Among items on DOL/EBSA's agenda: speaking with retirement plan service providers, employers and employees on what regulators can do to...
Variable-Rate Premiums To Be Capped by SECURE 2.0
The variable premiums paid to PBGC would be un-indexed from inflation.
Certified Financial Planner Board Issues Crypto Guidelines
The nonprofit warns financial planners that crypto-related assets “can be speculative and volatile.”
Participants Regain $1.4 Billon Thanks to EBSA’s Interventions
The largest category of plan money recovery was from enforcement actions.
New Modifications Released for Forms 5500 and 5500-SF
The document changes were the same for administrative penalties, but also contained differences.
DOL Extends Comment Period for Independent Contractor Rule
The proposed rule could affect thousands of independent financial advisers who prefer to be classified as independent contractors, rather than...
Fitch: SEC “Crack Down” on ESG Greenwashing to Continue
Retirement plan advisers should be aware both of SEC charges against those offering ESG funds, as well as the new...