Tag: fiduciary responsibilities
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Surprise decision acknowledges that Biden and Trump rules are virtually identical. In a surprise ruling, a very conservative federal district court in Texas, known for striking down Biden Administration policies, actually upheld a Biden Administration rule governing environmental, social, and governance (ESG) investing in ERISA retirement plans. Consistent with an amicus brief filed by t…
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Industry Reaction Are Slightly Hysterical. The Department of Labor (DOL) is expected to re-propose regulations that will create fiduciary responsibilities for financial services providers. The form that the proposed regulations will take is not yet known. In 2010, the DOL proposed eliminating third-party incentive payments (such as 12b-1 fees) that encourage broker-dealers and others to…