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 U.S. Department of Labor proposed amending the "Investment duties" requirement under the Employee Retirement Income Security Act of 1974 to clarify that fiduciaries must make investment decisions based solely on risk-adjusted economic value.
President Donald J. Trump signed a joint resolution nullifying a Department of Labor rule that created a "safe harbor" from ERISA regulations for local government-run retirement plans.