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.
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According to a new FAQ, investment advisers may consider factors relating to diversity, equity and inclusion in the selection or recommendation of other investment advisers to clients.
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.
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.
A dually registered investment adviser and broker-dealer was penalized for failing to adequately and periodically review wrap fee accounts to identify instances of "reverse churning."