The DOL announced a final rule allowing ERISA plan fiduciaries to consider environmental, social and governance factors when selecting investments and exercising certain shareholder rights.
The DOL Employee Benefits Security Administration proposed amendments to a Prohibited Transaction Exemption to clarify the circumstances under which relief may be provided for misconduct self-corrected under the DOL's Voluntary Fiduciary Correction Program.
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.
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 DOL proposed amendments to ERISA Rules to clarify the application of ERISA’s fiduciary duties of prudence and loyalty to selecting investments and investment courses of action.