
Judge Upholds DOL ESG Rule
A Texas judge, appointed during the Trump administration, ruled that the DOL does not violate ERISA by permitting ESG in ERISA-governed plans.

Funds’ Portfolios Must Reflect Their Name, SEC Says
New rule means funds will have to derive 80% of their value from investments related to their official names.

American Airlines Asks Judge to Toss 401(k) ESG Complaint
The airline's motion maintains that former pilot has no standing in ESG investing lawsuit, including an amended complaint that sought to expand "the list of managers he targets."

House Republicans Look to Repeal DOL Rule Permitting ESG in Retirement Plans
As the House of Representatives returned this week, it wasted no time proposing new bills targeting ESG investing.

May Climate Funds Be Used in DC Plan Menus?
Yes, as long as they don’t come at the cost of participants’ investment outcomes, according to Wagner Law Group.

American Airlines ESG Lawsuit May Move Ahead, According to Court Filing
A judge overseeing the complaint brought by a former pilot has set a potential trial date; the airline has said ESG-related investments were only available as a self-directed option.

Lawsuit Would Block Missouri’s Anti-ESG Advising Rule
Requiring registered advisers to follow state-level ESG disclosure rules violates federal law, according to SIFMA’s lawsuit.

House Spending Bill Would Block EBSA’s ESG Rule, but Senate’s Would Not
Congress has until September 30 to pass a budget bill.

Congressional Hearings Scrutinize Proxy Voting
Republicans accused proxy firms of prioritizing ‘woke’ political agenda ahead of financial considerations.

Vanguard, Fidelity Top Morningstar’s List of Robo-Advisers
Morningstar named the two firms among their top digital investment advisers along with Schwab, Betterment and Wealthfront.

House Republicans Outline ESG Policy Goals
An interim report argued that the US should protect firms from foreign regulators and require more transparency on ESG issues.

House Appropriations Bill Would Block Safeguarding and Swing Pricing Proposals, Among Others
The legislation also targets the climate disclosure and market structure proposals.

Anti-ESG Bill Would Require Only Pecuniary Factors to Be Considered
Kentucky Representative Andy Barr introduced a bill aimed at returning investment regulations to a Trump-era standard.

Vanguard’s ESG Support Half That of BlackRock, State Street
Of a sample of shareholder proposals linked to ESG, Vanguard opposed almost three-quarters.

Adviser Product Partnerships
Potomac makes model strategies available at American Trust Custody; Central Pension Fund partners with V3locity; Lumen Advisors and Sparo announce collaboration; and more.

ESG Congressional Hearings Show Partisanship Intensifying
Republicans and Democrats are mostly speaking past each other on ESG, which could create regulatory risk and uncertainty going forward.

EBRI Study: Inflation, Weak Stock Market Slashed Retirement Confidence
EBRI reports sharply decreased retirement confidence, driven primarily by inflation.

Advisers, Participants Skeptical of ESG Investments, but Asset Managers Are Not
Greenwashing by investment funds has contributed to negative rhetoric about ESG, but the practice remains a top initiative for U.S. asset managers, say experts at Cerulli.

Asst. Labor Secretary Gomez Says DOL Studying SECURE 2.0 Implementations
The EBSA head also discussed the need to educate market participants on the DOL's ESG rule and changes to COVID-19 protocols.

Investment Product Launches
Xtrackers by DWS announces a new ETF; Principal launches hybrid QDIA; Penn Mutual introduces Protection Whole Life; and more.