The Louisiana State Treasury notified one of its advisers that it will liquidate investments with the adviser by the end of 2022 over concerns the adviser's support of ESG policies would be detrimental to the state's economy.
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Senator Pat J. Toomey (R-PA) introduced the Retirement Savings Modernization Act, which would make explicit the authority of defined contribution retirement plan fiduciaries to invest in a wide variety of assets, including commodities, digital assets, private equity and real estate.
In a response to a Request for Information, SIFMA urged the Department of Labor to continue using a principles-based approach to regulation and expressed concern that its proposed method for compliance with E.O. 14030 may deviate too far from that approach.
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.
The Department of Labor extended the comment period on a proposed rule to change existing procedure governing the filing and processing of applications for administrative exemptions under certain statutory prohibited transaction provisions.