News & Analysis as of

Fiduciary Duty Today's Popular Updates Department of Labor (DOL)

Groom Law Group, Chartered

Modernization of DC Plan Investments

There is a growing interest from the retirement industry and policymakers to modernize 401(k) and other defined contribution (“DC”) plan investments by incorporating alternative asset classes and lifetime income features. ...more

Patterson Belknap Webb & Tyler LLP

New DOL Guidance for Retirement Plans on Cryptocurrency and ESG Investments

The new administration has recently taken steps to revise guidance with respect to two retirement plan investment options: cryptocurrency, and funds focusing on environmental, social, and governance (“ESG”) factors. These two...more

Proskauer - Employee Benefits & Executive...

DOL Rescinds 2022 Guidance Cautioning Against 401(k) Plan Investments in Cryptocurrencies

On May 28, 2025, the Department of Labor (“DOL”) issued Compliance Assistance Release No. 2025-01 which rescinds the DOL’s prior Compliance Assistance Release No. 2022-1 which had warned 401(k) plan fiduciaries against adding...more

Carlton Fields

DOL ESG Rule Withstands Demolition of Chevron Deference

Carlton Fields on

In Loper Bright Enterprises v. Raimondo, the U.S. Supreme Court knocked down Chevron U.S.A. Inc. v. Natural Resources Defense Council Inc., leaving the doctrine of Chevron deference in rubble. The doctrine stated that, when a...more

A&O Shearman

Texas court upholds Biden administration’s rule on ESG Investing for ERISA fiduciaries

A&O Shearman on

In a recent decision by the U.S. District Court Northern District of Texas, Judge Matthew J. Kacsmaryk ruled that the U.S. Department of Labor’s 2022 Rule (the 2022 Rule) on environmental, social, and governance (ESG)...more

Morgan Lewis

DOL’s VFCP Final Rule Adds Limited ‘Self-Correction’ Program for Late Contributions, Participant Loan Failures

Morgan Lewis on

The Employee Benefits Security Administration recently released its final rule amending and restating the Voluntary Fiduciary Correction Program, along with corresponding amendments to a related class exemption, Prohibited...more

Foster Swift Collins & Smith

DOL Echoes Employee Benefits and Cybersecurity Best Practices

On April 14, 2021, the U.S. Department of Labor’s (“DOL”) Employee Benefits Security Administration (“EBSA”) issued its first cybersecurity best practices guidance for retirement plans. The EBSA guidance was highly...more

Morgan Lewis

DOL Removes Restrictions on Recommendations of Principal Traded Assets from Prohibited Transaction Exemption 2020-02

Morgan Lewis on

The US Department of Labor (DOL) amended Prohibited Transaction Exemption 2020-02 (PTE 2020-02) to provide relief for recommendations of all types of principal trades. This change, effective September 23, 2024 and subject to...more

Fisher Phillips

Don't Forget About ERISA in Your Health Plan’s Cybersecurity Efforts: Important Reminders for Plan Fiduciaries in the Wake of...

Fisher Phillips on

Earlier this year, a cyberattack on a leading healthcare claims processing provider had an unprecedented impact on patients and healthcare providers across the country. While group health plans were not directly targeted in...more

Troutman Pepper Locke

Navigating the Impact of the New Fiduciary Rule on Insurers and Producers

Troutman Pepper Locke on

On April 23, 2024, the U.S. Department of Labor (the “DoL”) released its final rule (“Fiduciary Rule”) titled Retirement Security Rule: Definition of an Investment Advice Fiduciary (an “Investment Advice Fiduciary”), which...more

Groom Law Group, Chartered

DOL Finalizes PTE 84-24 Amendments

On April 25, 2024, the U.S. Department of Labor (“DOL”) published its much-anticipated final regulation on the definition of “fiduciary” under section 3(21)(a)(ii) of the Employee Retirement Income Security Act of 1974, as...more

Hogan Lovells

Department of Labor issues final regulation on investment advice fiduciaries

Hogan Lovells on

On April 23, 2024, the Department of Labor (the “DOL”) issued a final regulation (the “Final Rule”) that describes the circumstances under which a person will be considered a fiduciary for purposes of the Employee Retirement...more

Paul Hastings LLP

Pecuniary vs. Nonpecuniary Factors: Understanding the Potential Scope of Anti-ESG Restrictions in U.S. State Laws

Paul Hastings LLP on

Executive Summary and Overview- State anti-ESG lawmakers have enacted legislation aimed at restricting investors from considering ESG factors in their investment strategies and decisions by requiring state financial...more

Cadwalader, Wickersham & Taft LLP

Launch of State Alliance Against “ESG Investing”

On March 16, 2023 the Republican governors of 19 states announced an alliance led by Florida Governor Ron DeSantis, to “push back against President Biden’s environmental, social, corporate governance (ESG) agenda that is...more

Goodwin

Department of Labor Finalizes Amendments to Investment Duties Regulation

Goodwin on

On December 1, 2022, the Department of Labor (DOL) released final amendments to its regulation on investment duties under Section 404(a) of ERISA. The amendments will go into effect on January 30, 2023....more

Groom Law Group, Chartered

DOL Cybersecurity Investigations: The Trap Door to Endless Document Requests?

Parties involved in a Department of Labor (“DOL”) Employee Benefits Security Administration (“EBSA”) investigation often ask a simple question: how much information am I obligated to provide the DOL in response to an...more

Bond Schoeneck & King PLLC

DOL Expresses Extreme Concern Over Prudence of Cryptocurrency Investments in 401(k) Plans

On March 10, 2022, the United States Department of Labor (DOL) published Compliance Assistance Release No. 2022-01 (Release) addressing “cryptocurrency” investment in 401(k) retirement plans. In its Release, the DOL expressed...more

Kilpatrick

Brokerage Window Fiduciary Duties in Light of DOL Cryptocurrency Guidance

Kilpatrick on

The DOL’s (DOL) recent warning that it is launching a new investigative program aimed at plans that offer investments in cryptocurrency and related products, including through brokerage windows, sent shockwaves through the...more

Cadwalader, Wickersham & Taft LLP

DOL Warns Sponsors against Permitting Cryptocurrency-Related Investments on 401(k) Plan Investment Menus

The U.S. Department of Labor (“DOL”) last month issued Compliance Assistance Release No. 2022-1 - 401(k) Plan Investments in “Cryptocurrencies” (the “Release”) in which it strongly cautions ERISA plan fiduciaries to use...more

Troutman Pepper Locke

DOL Guidance on Cybersecurity: A Cautionary Note for Plan Sponsors

Troutman Pepper Locke on

Have you asked yourself recently: “Are my ERISA plan’s assets and participant data protected from cyberattacks?” If not, you should. The Department of Labor’s (DOL) release of cybersecurity best practices for plans covered by...more

Groom Law Group, Chartered

Cybersecurity Requests Appear in DOL Audits

Plan sponsors, fiduciaries, and service providers are being asked by DOL investigators how their ERISA governed plans address cybersecurity concerns with increasing frequency. These requests may take the form of production...more

Morgan Lewis - ML Benefits

Department of Labor Teases Cryptocurrency Interest

Hinting that the US Department of Labor (DOL) is currently working on guidance related to cryptocurrency, the Acting Assistant Secretary for the DOL’s Employee Benefits Security Administration recently commented that the DOL...more

ArentFox Schiff

Don’t Be Insecure: DOL Guidance Addresses Cybersecurity for ERISA Plans

ArentFox Schiff on

The Department of Labor (DOL) recently issued new guidance on best practices for maintaining cybersecurity in connection with ERISA plans (the Guidance). The Guidance, which is intended for sponsors, fiduciaries, record...more

Kilpatrick

Fiduciary Duty IS Coming to Privacy – Through Your Benefit Plans!

Kilpatrick on

While all businesses have been grappling with cybersecurity challenges for years, cybersecurity has recently come into focus for retirement plans, health and welfare plans and other ERISA plans due to a new Department of...more

Bond Schoeneck & King PLLC

DOL Issues New Cybersecurity Guidance for Plan Sponsors, Plan Fiduciaries, Record-Keepers and Plan Participants

On April 14. 2021, the U.S. Department of Labor (DOL) issued much needed guidance concerning best practices for plan sponsors, fiduciaries, record-keepers, participants and beneficiaries pertaining to cybersecurity for...more

58 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide