Explore Fred’s latest insights on fiduciary responsibility, ERISA developments, retirement policy, regulatory guidance, and the evolving landscape of financial and retirement services.
Key Takeaways The Trump administration has issued an Executive Order about facilitating 401(k) investments in “alternative assets.” The Order directs the Secretary of Labor to examine current guidance and decide if it is appropriate for that purpose. The Order also directs the Secretary of Labor to issue guidance to clarify
Key Takeaways The Trump administration is dropping its defense of the Biden-era ESG regulation on prudence for investment selection for fiduciaries of ERISA-governed retirement plans. In turn, the Biden era regulation reversed a regulation from the first Trump administration that was, in parts, anti-ESG. The Trump administration is expected to
Key Takeaways When an ERISA governed retirement plan engages and pays service providers, such as advisors and recordkeepers, it commits a prohibited transaction. However, if the plan fiduciaries satisfy the conditions of an exemption (which, in this case, would be the 408(b)(2) statutory exemption), the prohibited transaction is exempt, that
Key Takeaways The private fund industry is making inroads into 401(k) plans—attracted by the assets in those plans. The Trump administration has indicated that it will reduce the requirements for retail investors to invest in private funds (e.g., by lowering the accredited investor and qualified purchaser thresholds). It seems likely
Key Takeaways The Department of Labor’s Employee Benefits Security Administration (EBSA) issued Compliance Assistance Release (CAR) 2022-01 that caused concerns among plan sponsors and fiduciaries about the use of cryptocurrencies in participant directed plans. On May 28 of this year, the DOL’s EBSA rescinded that CAR. That should have the
Key Takeaways FINRA’s 2025 Annual Regulatory Oversight Report 2025-annual-regulatory-oversight-report.pdf included a focus on issues related to retirees and senior investors. The Report provides guidance to broker-dealers about the priorities of FINRA in its regulation, supervision and enforcement programs for broker-dealers. In other words, it is one of FINRA’s ways of
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