The Investment Company Institute reiterated “significant concerns” after the DOL reopened the comment period on the Employee Benefits Security Administration’s proposed amendments to the Qualified Professional Asset Manager Exemption.
The DOL reopened the comment period on the Employee Benefits Security Administration’s proposed amendments to the Qualified Professional Asset Manager or "QPAM" class exemption.
President Joseph R. Biden vetoed a resolution by Congress to disapprove the DOL's final rule explicitly allowing ERISA plan fiduciaries to consider environmental, social and governance factors when selecting investments and exercising certain shareholder rights.
In a Joint Policy Statement, 19 Republican governors committed to preventing the "proliferation of ESG throughout America," which they said is a "direct threat to the American economy, individual economic freedom, and our way of life."
The DOL Employee Benefits Security Administration reopened the comment period for proposed amendments to a prohibited transaction exemption that would clarify the circumstances under which relief may be provided for misconduct that is self-corrected under the DOL's Voluntary Fiduciary Correction Program.