Effective 17 June 2024, the US Department of Labor (DOL) adopted comprehensive amendments to Prohibited Transaction Exemption (PTE) 84-14, also known as the “QPAM exemption” (Exemption)....more
12/19/2024
/ Banking Sector ,
Banks ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Financial Services Industry ,
Investment ,
Investment Adviser ,
Investment Management ,
OCC ,
Prohibited Transactions ,
QPAM
Executive Summary - Many investment advisers and other financial institutions rely on the Department of Labor’s QPAM Exemption when providing services to, and transacting with, employer-sponsored retirement plans, individual...more
5/1/2024
/ Benefit Plan Sponsors ,
Compensation & Benefits ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Exemptions ,
Financial Institutions ,
Financial Services Industry ,
Investment Adviser ,
Investment Management ,
Prohibited Transactions ,
QPAM ,
Retirement Plan
Executive Summary: The Department of Labor released a final rule that addresses fiduciary duties when (1) considering ESG factors in selecting investments, and (2) considering whether and how to vote proxies, for plans...more
On 13 October 2021, the Department of Labor (DOL) proposed amendments (the Proposed Rule) to its investment duties regulation under the Employee Retirement Income Security Act of 1974, as amended (ERISA), to clarify that...more
EXECUTIVE SUMMARY - The Department of Labor (DOL) published final regulations that make significant strides in reducing barriers to the electronic delivery of a wide array of retirement plan disclosures. Specifically, the...more
9/3/2020
/ Beneficiaries ,
Benefit Plan Sponsors ,
Corporate Counsel ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Electronic Disclosure ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Pensions ,
Retirement Plan ,
Safe Harbors
TOPICS -
- Socially responsible/ESG investing
- Distribution through consulting/OCIO firms
...more
On an almost daily basis, there are developments regarding the status of the Department of Labor’s (“DOL”) fiduciary rule creating a climate of uncertainty. Stakeholders, such as financial institutions that serve retirement...more
In the face of controversy and following thousands of comments from market participants and lawmakers, the Department of Labor (“DOL”) has finalized sweeping changes to the definition of “fiduciary” under the Employee...more