Tag: fiduciary responsibilities
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…
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…
