Videocast: Asset management regulation in 2020 videocast series – DOL: What’s ahead
States Sue SEC in Ongoing Fight Over Reg BI
Podcast - Credit Funds: How Managers Can Avoid and Mitigate ERISA Conflicts
I-22- The Benefits of Benefits: A Roundtable Discussion on Trending Benefits Issues for 2018
Employment Law This Week: Fiduciary Rule Takes Effect June 9, Rescission of Persuader Rule, Title VII & Sexual Orientation, Overhauling the NLRA
The regulatory pendulum has been swinging toward deregulation since Donald Trump was inaugurated last month. On his first day in office, January 20, 2025, President Trump issued a presidential memorandum titled “Regulatory...more
Next year, President-elect Donald Trump's administration will begin implementing its agenda. The new administration's priorities and positions on certain benefits-related issues are expected to take a dramatic shift from...more
Yogi Berra said it best, “It’s like déjà vu all over again.” We have a new fiduciary rule and an unexpected Trump victory (I expected it)....more
The long-anticipated final rule under the Mental Health Parity and Addiction Equity Act (MHPAEA) was published on September 9, 2024. The MHPAEA prohibits group health plans that provide mental health and substance use...more
A notable trend in ERISA litigation has emerged as in-house attorneys look to mitigate the risks of coming waves of class action litigation. Beginning in late 2023, there have been several challenges to the use of forfeiture...more
In April 2024, the U.S. Department of Labor issued its long-awaited retirement security rule, also known as the fiduciary rule, broadening the definition of who is an “investment advice fiduciary” under the Employee...more
The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” DOL fiduciary regulation (the 5-part test) and the existing exemptions continue in effect indefinitely....more
On July 25, 2024, the U.S. District Court for the Eastern District of Texas stayed the U.S. Department of Labor’s (DOL) recently-issued final rule, set to take effect September 23, 2024, which would amend the definition of an...more
The Federation of Americans for Consumer Choice v. Department of Labor case was the first case challenging the Department of Labor’s 2024 retirement security rule defining who is an investment advice fiduciary. It was...more
Federal District Courts in the Eastern and Northern districts of Texas issued orders on July 25th July 26th, respectively, staying the effective date of the Department of Labor’s final regulation on its “fiduciary rule,”...more
Under recently finalized federal regulations (commonly referred to as the “Fiduciary Rule”) that were scheduled to become effective on September 23, 2024, the U.S. Department of Labor intended to expand the fiduciary...more
The DOL’s fiduciary regulation was scheduled to become effective this September 23. The exemptions were scheduled to become partially effective this September 23 and fully effective September 23, 2025....more
On behalf of the ESOPs, Benefits & Compensation team, we hope your Summer is off to a great start. In the time of family vacations and out-of-office replies, the pace of employee benefits changes—both large and small—remains...more
Seyfarth Synopsis: Orders issued by the Eastern District of Texas on Thursday July 25 and the Northern District of Texas on Friday July 26 indefinitely delayed the September 23, 2024 effective date of the Department of...more
The rate of change in the employment and benefits area seems to be accelerating. This alert addresses some of the changes that have been of most concern to our clients. Observations on Long-Time Part-Time Employee...more
On July 18, the U.S. Court of Appeals for the Fifth Circuit (“Fifth Circuit”) vacated a decision by the U.S. District Court for the Northern District of Texas (“District Court”) that upheld the U.S. Department of Labor’s...more
I think I learned in American politics that first semester in Stony Brook that if men were angels, there would be no need for government. If people did the right thing, there would be no need for government regulation....more
In April 2024, the U.S. Department of Labor (DOL) released final rules that are intended to protect retirement savings from disloyal or dishonest recommendations from investment advisors. The new rules treat an investment...more
The U.S. Department of Labor’s (DOL) final regulations broaden the definition of fiduciary under the Employee Retirement Income Security Act (ERISA) to include more investment advisors. However, the eight hundred pages of...more
On April 25, 2024, the Department of Labor (“DOL”) published in the Federal Register its final regulation on its "fiduciary rule" (the "Final Regulation") clarifying when fiduciary status under the Employee Retirement Income...more
The Department of Labor has issued its final regulation defining fiduciary status for investment advice to retirement investors and the related exemptions for prohibited conflicts—PTE 2020-02 and 84-24. The exemptions provide...more
The Department of Labor’s final definition of “investment advice” fiduciary regulation makes many more individuals fiduciaries under both the Employee Retirement Income Security Act and the Internal Revenue Code. Where for...more
I’m not a fan of abuses in the retirement plan space. I called for fee disclosures before it was vogue and I always saw abuses in the rollover space. I always felt that advisors could try to steer participants into products...more
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
The new fiduciary rule, which had its final rule, published, got its first lawsuit. The Federation of Americans for Consumer Choice (FACC), along with several independent insurance agents, filed a lawsuit in the U.S....more