Regulation
DOL Will Not Enforce Final Rules on ESG, Proxy Voting
The federal agency will revisit the disputed regulations, enacted in the final days of the Trump administration.
Tag: United States Department of Labor (DOL)
Regulation
DOL Finalizes Fiduciary Exemption Consistent with Best Interest Standard
Investment professionals can collect payment for a wider range of transactions, so long as they satisfy the reinstated ‘five-part test’ for fiduciaries.
Regulation
DOL Eases Overly Prescriptive Stance in Final Proxy Voting Rule
It’s unclear how the rule will be interpreted and enforced after the federal administration changes hands, experts say.
Regulation
DOL Sends Fiduciary Rule Update to OMB
Experts believe the White House will conduct a quick review of the ‘middle-of-the-way’ proposal.
Alternatives
Principles for Responsible Investment Calls for Reversal of Anti-ESG Trump Policies
CEO of UN-backed group says Biden administration has opportunity to ‘make American finance great again.’
Regulation
DOL, Dubious About ESG Pension Investing, Cuts It a Bit of Slack in Final Rule
The regulation still requires that plans only use financial considerations in investments, but says companies’ pollution and bad governance may be factors, too.
The Hodgepodge of ESG Investment Standards Sparks Controversy
MIT study underscores the confusion of ratings, then DOL cites that in proposing curbing sustainability factors in retirement portfolios.
Newsmakers
Treasury Rejects Benefit Cut Requests from Musicians, Teamsters Pensions
MPRA rejections were the first under Treasury Secretary Mnuchin.
Regulation
Advocacy Group Calls New Labor Department Rule ‘Anti-Consumer’
Pension Rights Center says the policy contradicts recent Supreme Court ruling and DOL guidance.
Market Moves
ESG-Friendly Stocks Have Done Better in Virus Downturn, BofA Says
‘A bear market necessity’: Higher employee satisfaction is critical factor, the study concludes.
Newsmakers
DOL Proposes Exemption, New Compensation for Fiduciaries
Investment professionals acting in their clients’ best interest can receive compensation for advice such as rollover recommendations, the agency said.
Regulation
DOL Proposal Will Chill ESG Corporate Pension Investing, Advocates Say
The proposed federal rule takes a dim view of sustainable investing that’s not focused solely on returns.
Market Moves
Don’t Get All Excited by the Green Light for PE in 401(k)s
Private equity isn’t always a market beater and charges high fees. Besides, it’ll be confined to larger investment pools, like target-date funds, which limits its impact.
Alden Global Capital in Pension Pickle with Department of Labor
Investigation of the hedge fund’s media dealings could cause cracks in Gannett deal.
Pensions in Critical Status Fewest in Decade
The number of multiemployer pensions in critical status has fallen for the sixth straight year.