House Republicans Propose 4 New Anti-ESG Bills
The Education and Workforce Committee adds to prior Republican pushback against ESG investing in retirement plans.
Regulation
Republicans Call for Acting Secretary Su to Step Down Ahead of New Fiduciary Proposal
The OMB is expected to receive in the coming days a DOL proposal that may face challenges to more than just its substance.
How Investment Advisory Firms Can Follow SEC Marketing Rule
The SEC concluded its first enforcement action under the new marketing rule last week.
Law Firm Letter Backs DOL Rule on ERISA Fiduciaries Using Climate Factors
Fiduciaries may use climate funds, as long as financial returns receive equal or greater weight to collateral benefits, the Wagner Law Group wrote in an open letter.
SEC Adopts Private Fund Adviser Rules Aimed at Increasing Transparency
In dissent, Commissioner Peirce said the new rules will harm investors, while Commissioner Uyeda called them ‘arbitrary and capricious.’
Prudential Closes $1 Billion PRT Deal With PSEG
The utility company is looking for greater financial predictability and approved the partial annuitization of their pension plan.
New York Service Workers’ Pension Fund Receives $36.3M SFA Grant
The fund was projected to become insolvent in 2024, and PBGC funds will enable it to stay solvent through 2051.
PBGC Proposes Updating Valuation Assumptions
The proposal would modify mortality, interest and expense assumptions.
PBGC Grants $182.6M to Southwest Ohio Carpenters’ Pension
The plan had already cut benefits by 18% as of 2019.
Florida Fund Administrator Settles SEC Charges Over Missing ‘Red Flags’
Theorem Fund Services allegedly misappropriated and misused investors’ funds.
SEC Cybersecurity Rules Require Major Compliance Efforts
Experts say regulations adopted last month will not be easy to meet without added resources and focus.
UK Tribunal Upholds TPR’s Pension Contribution Notice Powers
The Meghraj Group pension’s sponsor was ordered to pony up nearly 2 million pounds following a dividend payment probe.
PBGC Issues One-Time Waiver for 4010 Filers
Pensions with a value date between October 1, 2022, and March 1, 2023, may qualify.
Insurance Executives Say ERISA PRT Rule Is Enough
Only minor changes to the DOL's PRT regulation, IB 95-1, would be needed to account for changing market conditions, industry leaders say.
PBGC Provides More Than $1B to 3 More Ailing Multiemployer Plans
The plans were projected to become insolvent within 10 years.