On March 10, 2021 the U.S. Department of Labor ("DOL") released a policy statement that it will not enforce or otherwise pursue enforcement actions against a fiduciary for failing to comply with.
IFAC pushes for accountants to measure sustainability accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
March 12, 2021
The Biden administration is making a clean break from Trump-era rules that made it harder for money managers to incorporate environmental, social, and governance funds into retirement and 401(k) plans.
The U.S. Department of Labor stated it will not be enforcing a Trump-administration rule that makes it tougher for 401(k) plans to hold socially responsible investment funds, the Wall Street Journal reports.
The agency has been reviewing a rule that was finalized in the fall, which prevented corporate 401(k) plans from investing in funds with nonfinancial goals for employees. The recent rule required 401(k) managers to show that ESG-focused funds can have just as strong returns as competing funds.
Labor Dept. moves to rescind two Trump-era rules on worker classification
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March 11 (UPI) The Biden administration on Thursday announced it is working to rescind two Trump-era rules it says weakened worker protections.
In the latest move by the administration of President Joe Biden to roll back the policies of his predecessor, the Labor Department said in a statement it has proposed to withdraw two rules that concern the classifications of workers and contractors under the Fair Labor Standards Act.
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The first rule called the Independent Contractor Final Rule, which was issued in the final weeks of the Donald Trump presidency, sought to clarify the standard for employee versus independent contractor while the second rule updated guidance for determining joint employer status, which was mostly vacated by the court last year deeming it violated the Administrative Procedure Act.
U S Labor Department will not enforce Trump-era investment rules reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.