14.12.2022 09.06 CST
New DOL guidance seeks to clarify relationship between ESG factors and ERISA fiduciary requirements.
The U.S. Department of Labor has issued new final regulations that attempt (once again) to clarify how plan fiduciaries can consider the use of environmental, social and governance factors (“ESG”) in making plan investment decisions. The goal of these new final regulations was to walk back regulations, finalized during the waning days of the Trump administration in December 2020, that placed obstacles in the way of fiduciaries considering the use of ESG factors.
15.07.2020 11.54 CDT
New DOL guidance would provide advisors with incentives to sell commissionable products.
DOL Completes Trifecta of Questionable Policies
The DOL’s new guidance reinstates prior definition of investment fiduciary and offers new exemption for (otherwise prohibited) forms of compensation for plan fiduciaries.
The Department of Labor has issued new guidance defining when an investment adviser is a plan fiduciary--and the standards that must be followed by investment fiduciaries. The guidance reinstates a 1975 test defining investment fiduciaries and proposes a new prohibited transaction exemption allowing fiduciaries to collect commissions and third-party payments.