Tag: fiduciary responsibilities

Texas US state flag with statue of lady justice

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…

a man on a computer and calculator working out his business budget strategy

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 sell high-fee mutual funds to…