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DOL won’t enforce Trump-era ESG rules The two rules were among the most heavily contested measures instituted by the DOL under former Secretary Eugene Scalia, with the 401(k) rule drawing nearly 9,000 public comments, most of which opposed it. March 10, 2021 3 MINS The Department of Labor will not enforce two controversial Trump-era rules that restricted the use of ESG investments in retirement plans, the agency announced Wednesday. In a statement, the DOL said that it will take a hands-off approach to the recently passed rules, Financial Factors in Selecting Plan Investments and Fiduciary Duties Regarding Proxy Voting and Shareholder Rights. The first pertains to “pecuniary” considerations when vetting investment options within 401(k)s and other defined-contribution plans, while the latter deals with traditional pension plans’ involvement in environmental, social and governance concerns. ....
Biden s DOL Will Not Enforce Trump-Era ESG Rule The Department of Labor also announced it would not enforce a rule concerning proxy voting, saying it had heard from stakeholders that the rules had a chilling effect on appropriate integration of ESG factors in investment decisions. The Department of Labor will not enforce a Trump administration rule that made it harder for fiduciaries to use environmental, social or governance (ESG) factors and investment funds in retirement plans, the department announced Wednesday. Additionally, the DOL will not enforce a Trump-era rule that limited proxy voting by a plan s fiduciaries on shareholder proposals that advanced ESG proposals unless a financial benefit could be demonstrated. ....
NEW YORK The U.S. Department of Labor said on Wednesday it will not enforce two rules finalized in the last days of the Trump administration that curb… ....
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.