Groups Suggest DOL Take Certain Language Out of Proposed ESG Rule
While expressing support for the rule, they say removing specific references to ESG factors will help fiduciaries understand they are...
Tag: DoL
Senators and Investment Group Push Back on DOL ESG Proposal
They say the latest proposed regulations ‘dismantle important actions’ taken by the previous administration and politicize retirement savings.
DOL Seeks Information From Alight Solutions About Cybersecurity Incidents
Alight has been sued by retirement plan participants whose accounts were hacked, and the Department of Labor is investigating the provider's practices.
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...
Fiduciaries Accused of Shortchanging Participants in ESOP Sale
A Department of Labor lawsuit says the fiduciaries allowed the ESOP's ownership shares to be sold for less than market...
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...
Expect the SEC To Get Tougher on Advisers, Advocate for Retirement Savers
The change in agency leadership has driven a clear change in focus and a new sense of urgency to act...
Could This Be a DOL ESG Framework That’s Here to Stay?
In addition to the important practical takeaways of the DOL’s proposed rule on ESG investing and proxy voting, sources say...
DOL Provides Transitional Relief for Investment Advice Rules
A newly issued Field Assistance Bulletin provides that investment advice fiduciaries now have until January 31, 2022, to comply with the impartial conduct standards in the fiduciary prohibited...
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.
Compliance Consult
Provider Recommendations
Does relying on certain ‘go-to’ providers have implications under ERISA?
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...
Social Security Benefits Will Grow 5.9% in 2022 Amid Renewed Inflation Concerns
The important federal benefit increases when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers,...
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...
PANC 2021: Investigation Lessons Learned From Experience
One tip is that being in a state of audit-readiness is essential for retirement plan advisers and their plan sponsor clients—both for peace of mind and to make...
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...
SEC Sanctions Offer New Cybersecurity Guideposts
One former SEC enforcement leader says actions against several advisory firms that allegedly had cybersecurity failures make a clear case...
Order Sanctions Fiduciary Who Diverted Millions From Clients
A DOL investigation and legal pursuit that have spanned the better part of two decades have drawn to a close,...