Things I Worry About (14): ESG and the Political Back-and-Forth at the DOL
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 reinstate a regulation similar to […]
The New Fiduciary Rule (51): The Loper Bright Decision and What it Means for DOL Regulations (1)
Key Takeaways The lawsuits against the DOL’s new regulation on fiduciary advice and the related exemptions—and the likely appeals—will probably last for years. A key issue in the lawsuits and appeals is the authority of the DOL to amend its existing regulation—the 5-part test—to cover one-time recommendations (subject to specified limits). The DOL will argue […]