DOL’s New Proposed Fiduciary Rule Aligns With Reg BI, NAIC Suitability
Multiple national-level conflict of interest rules are now aligned that will require financial professionals to act in the best interest...
Tag: Department of Labor (DOL)
DOL Proposes Stricter Rules About ESG Investing in Retirement Plans
Secretary of Labor Eugene Scalia says employer-sponsored plans ‘are not vehicles for furthering social goals or policy objectives.’
Some Parties Question PE’s Role in DC Plans
It is common to hear that private equity (PE) has been the best performing asset class in recent years for institutional investors, but a new academic analysis challenges...
Compliance News
EBSA’s E-Disclosure Rule Is Final
The standard, letting employers opt for electronic vs. print reporting, is a highlight of the agency’s departed assistant secretary’s tenure.
DOL Issues RFI on Prohibited Transactions, Open MEPs and SECURE Act
Responses to the request for information (RFI) will help the Department of Labor (DOL) evaluate the need for a proposal on new prohibited transaction exemptions related to pooled employer...
New ESG Regulation Expected Soon from DOL
Despite the frequent publication of regulatory guidance—or perhaps because of it—there remains a lot of confusion about how retirement plan fiduciaries should think about environmental and social justice...
Close Coordination Expected Between New DOL Rule and SEC’s Reg BI
Such alignment would be consistent with what the Department of Labor leadership has been signaling for a number of years now.
DOL Issues Guidance About Private Equity Investments in DC Plans
An Information Letter addresses private equity investments as a component of a professionally managed asset allocation fund and outlines what plan fiduciaries should consider.
First Hints of Potential New DOL Fiduciary Rule Emerge
The Department of Labor has submitted a draft regulation to the Office of Management and Budget.
DOL’s EBSA Reveals Final Electronic Disclosure Rule
Compared with other regulatory efforts undertaken in recent years by the Department of Labor, this one enjoys near universal support among retirement plan industry stakeholders.
Assessing the State of Trump’s EBSA
The Employee Benefits Security Administration is among the regulators with the most direct influence over the retirement planning industry. It...
Wilmington Trust to Pay $80 Million to Settle DOL Investigations
The DOL alleged Wilmington Trust caused losses to ESOPs when it authorized them to pay more than fair market value for privately held employer stock.
Retirement Plans Get Relief for Certain Requirements
The agency is relaxing timing rules for certain actions and notices if timing is affected by the COVID-19 outbreak.
DOL Secretary Scalia Confirms EBSA Head Rutledge’s Departure
Rutledge will remain with the Department of Labor through the end of May, at which time he will have been in the post of assistant secretary for the...
Staying Audit Ready in a Turbulent Time
As one might expect, what the Department of Labor (DOL) and the Securities and Exchange Commission (SEC) are particularly interested...
PBGC and DOL Make Guidance Document Databases Available
An executive order requires each agency to establish on its website a single, searchable indexed database that contains, or links to, all the agency’s guidance documents and provides...
Ways to Find Missing Participants
Failure to find missing participants could disqualify a retirement plan under the tax code and lead to breaches of the ERISA fiduciary duty.
Sen. Warren Warns DOL About Adviser Conflicts of Interest
The Democratic presidential candidate tells Department of Labor Secretary Scalia she fears the DOL is considering standards of conduct that would permit advisers providing advice on retirement savings...
Proxy Voting Update on DOL Agenda
The DOL is aiming to "modernize fiduciary practices related to the voting rights associated with ERISA plan investments and harmonize those regulations with the requirements of other regulators.”
Ways to Make Default E-Delivery Even More Effective
Recordkeepers and other service providers have submitted generally positive comment letters to the Department of Labor regarding its proposed e-delivery default rule, but they also have some specific...