SIFMA and SIFMA Asset Management Group urged the DOL to withdraw its latest version of the "Retirement Security Rule" proposal and accompanying prohibited transaction exemption amendments that would expand the activities resulting in a person being deemed an "Investment Advice Fiduciary."
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New York Attorney General Leticia James urged Congress to pass legislation that would prohibit Individual Retirement Accounts and other defined contribution retirement plans from investing in digital assets.
Senators Elizabeth Warren (D-MA) and Tina Smith (D-MN) challenged Fidelity Investments to defend its recent decision to allow investments in Bitcoin in its 401(k) investment plan menu.
The Department of Labor’s Employee Benefits Security Administration reminded 401(k) plan fiduciaries of their duties to participants when considering plan investments involving cryptocurrencies.
The DOL extended certain enforcement relief under a new temporary policy on prohibited transactions rules applicable to investment advice fiduciaries.