SIFMA regulatory experts said they'd been assured by the DOL that tweaks to its fiduciary rule would be small, and that the 'heart' of the rule is there.
Who the president is matters to sustainable investing.
One hundred days into Joe Biden’s presidency, his administration’s executive orders and agency actions have reinstated and advanced an environment that empowers sustainable investing. President Biden has also assembled a strong climate-change team and bestowed significant authority on it, including establishing a new White House Office of Domestic Climate Policy, headed by Gina McCarthy, and appointing former Secretary of State John Kerry to the U.S. National Security Council as special presidential envoy for climate.
All of this sets our children and grandchildren and wildlife up for a more secure future but threats to sustainable investing remain.
DOL working on additional ESG, lifetime income guidance, rules
Bloomberg
More guidance and rule-making initiatives from the Department of Labor s Employee Benefits Security Administration are expected this year on a host of issues, including lifetime income, environmental, social and governance investing and fiduciary investment advice.
Ali Khawar, acting assistant secretary for EBSA, provided an overview of the work taking place under the new administration during a webinar Thursday hosted by American Savings Education Council the Employee Benefit Research Institute s non-profit foundation.
In March, the Labor Department said it would not enforce two rules one called Financial Factors in Selecting Plan Investments, which stipulates that ERISA plan fiduciaries cannot invest in non-pecuniary vehicles that sacrifice investment returns or take on additional risk; and the other, Fiduciary Duties Regarding Proxy Voting and Shareholder Rights, which outlines the process a fid
New Labor Department guidance seems to strengthen fiduciary exemption financial-planning.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financial-planning.com Daily Mail and Mail on Sunday newspapers.
The U.S. Department of Labor (DOL) has released new guidance for plan sponsors, plan fiduciaries, recordkeepers and plan participants on best practices for maintaining cybersecurity, including tips on how to protect the retirement benefits of America’s workers. This is the first time the DOL’s Employee Benefits Security Administration (EBSA) has issued cybersecurity guidance.
As of 2018, the EBSA estimates that there are 34 million defined benefit (DB) plan participants in private pension plans and 106 million defined contribution (DC) plan participants with combined assets of $9.3 trillion. The agency notes that without sufficient protection, these participants and assets may be at risk from internal and external cybersecurity threats.