DOL Proposes Qualified Professional Asset Manager Exemption Changes
The Labor Department’s proposed amendment to a widely utilized prohibited transaction exemption is meant to ensure the exemption continues to...
Tag: EBSA
MODERN INVESTMENT MENU / CRYPTOCURRENCY
Fool’s Gold for 401(k)s?
The DOL’s guidance on cryptocurrency causes much confusion.
Labor Secretary Walsh Talks Crypto, DOL Budget
Labor Secretary Marty Walsh testified to Congress that DOL is open to a rule that would regulate cryptocurrency in retirement...
Senate Vote on EBSA Nominee Fails
The vote will be rescheduled for when Vice President Kamala Harris can break the tie.
Confirmation Vote Set for Lisa Gomez, EBSA Nominee
The long-awaited full Senate hearing is now on the docket for next week.
DOL Compliance Notice Warns Against Crypto Risks
The DOL’s Compliance Assistance Release No. 2022-01 urges plan fiduciaries to exercise ‘extreme care’ before they consider adding a cryptocurrency option to a 401(k) plan’s investment menu.
Analyzing Retirement Industry Cybersecurity Risks and Best Practices
A certain famous bank robber is said to have explained that he robbed banks because ‘that’s where the money is.’...
Compliance News
Legislative and Judicial Actions
The DOL denies general support for private equity; the Supreme Court sends ‘Northwestern’ back to the appeals court; the PBGC...
DOL Publishes RFI on Climate-Related Financial Risks to Savings
The Department of Labor wants help identifying actions it can take to safeguard employees’ savings and pensions from threats related...
DOL’s EBSA Secretary Nominee Advanced by HELP Committee
The Biden administration’s nomination of Lisa Gomez to lead the DOL’s Employee Benefits Security Administration took a key step forward Thursday.
Trends
The Greening of Proxy Voting
ESBA’s rule, making voting more transparent, will call for new adviser services.
DOL Enforcements Result in $2.4B in Recoveries for Plans, Participants and Beneficiaries
An Employee Benefits Security Administration report offers insight on how the agency gets leads for its enforcement actions.
Provider Reviews, Contracts Emphasized in DOL Cybersecurity Guidance
Retirement plan fiduciaries often rely on their service providers to create the electronic systems used to maintain participant data and conduct electronic transactions involving plan assets—so the Department...
Op-Ed: ERISA Prudence Demands Healthy ESG Skepticism
Neal Shikes agrees that ESG factors can be an important part of institutional investors’ methodologies, but he also says retirement...
Compliance News
Legislative and Judicial Actions
The SEC returns to cybersecurity enforcement pledge; Form 5500 revisions; revenue-sharing disclosure failures result in SEC action; and more.
DOL Announces Anticipated ESG Fiduciary Investing Rule
Agency leaders say the principal idea of the new proposal is that climate change and other ESG factors can be financially material and, when they are, considering them...
Court Rebuffs DOL’s ESOP Valuation Case Against Engineering Firm
One commentator who works in the employee stock ownership plan space says the ruling represents “one of the most comprehensive rebukes of DOL arguments” in such a valuation...
DOL, IRS and PBGC Call for Comments on Form 5500 Revisions
In addition to asking for input on the SECURE Act’s requirements and the current Form 5500, the DOL has published a notice of proposed changes to its implementation...
Compliance Consult
Cybersecurity and ERISA
DOL guidance should prompt clients to ask for help with compliance.
A Well-Informed Look at the EBSA’s Terminated Vested Participant Project
Justine Kim worked as a DOL investigator from 2006 to 2018. In this guest article, she offers tips for advisers...