A group of financial trade associations requested an extension to a comment deadline on proposed amendments to a Prohibited Transaction Class Exemption ("QPAM"). The exemption allows qualified registered investment advisers, banks, savings and loans and insurance companies to engage in otherwise prohibited transactions related to ERISA plan assets.
Multiple regulatory agencies published semiannual agendas that include rules the agencies are currently considering to propose or promulgate.
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.
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 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.