House Proposal Would Modify Fiduciary Investment Selection Requirements
Representative Greg Murphy, along with co-sponsor Representatives Carol Miller, David Schweikert, and Lloyd Smucker have introduced HR 9198, the Safeguarding Investment Options for Retirement Act.
DOL’s Proposed Restated Voluntary Fiduciary Correction Program at OMB
The Office of Management and Budget has received a proposed rule from the Department of Labor (DOL) titled “Adoption of Amended and Restated Voluntary Fiduciary Correction Program”.
DOL Issues Compliance Release on Cryptocurrencies
The DOL has issued Compliance Assistance Release 2022-01 on the use of cryptocurrencies as plan investments in 401(k) plans.
DOL Issues “Supplemental Statement” to 2020 Information Letter
The Department of Labor’s Employee Benefit Security Administration (EBSA) has issued a supplemental statement to a June 2020 Information Letter.
DOL Announces New Temporary Enforcement Policy
The DOL has extended the transitional relief under FAB 2018-02 and provided additional temporary non-enforcement guidance related to specific provisions of PTE 2020-02 in FAB 2021-02.
DOL Flips Script with ESG Proposal
The Department of Labor (DOL) has issued a proposed rule, “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.”
Executive Order Includes Review of ESG Factors
Last week, President Biden issued an Executive Order on Climate-Related Financial Risk.
DOL Releases Additional Investment Advice Guidance
This latest DOL guidance package presents helpful information in a more understandable format.
Department of Labor Releases Cybersecurity Guidance
On April 14, the DOL’s (EBSA) issued—for the first time—guidance on best practices for maintaining cybersecurity.
Additional Prohibited Transaction Exemption Guidance
The Department of Labor (DOL) has issued two pieces of guidance on its new fiduciary advice prohibited transaction exemption, PTE 2020-02.
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