News & Analysis as of

Proposed Rules Employee Retirement Income Security Act (ERISA)

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - May 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Seyfarth Shaw LLP

Third Time’s a Charm or Three Strikes You’re Out? The Department of Labor Finalizes its Third Revised Investment Advice Fiduciary...

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On April 23, 2024, the DOL finalized its 2023 proposed package of amendments to the regulations defining who is a fiduciary under ERISA by virtue of providing investment advice for a fee, and amendments to seven existing...more

Morgan Lewis - ML Benefits

DOL Proposed Rule on Automatic Portability: Plan Fiduciaries’ Perspective

While the US Department of Labor’s (DOL’s) recently proposed regulations regarding automatic portability transactions would place the onus of compliance on transfer providers, a number of the provisions would trigger ERISA...more

McDermott Will & Emery

Lessons from Ryan S. v. UnitedHealth Group for the 2023 MHPAEA Proposed Rule

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A recently decided US Court of Appeals for the Ninth Circuit case, Ryan S. v. UnitedHealth Group, Inc., offers some useful insights on the enforcement by private litigants of the Mental Health Parity and Addiction Equity Act...more

Carlton Fields

New DOL Fiduciary Rule Proposal: Still the Same Old Act…

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On November 3, 2023, the Department of Labor proposed yet another fiduciary rule, the latest in more than a decade of DOL efforts to ensure that every financial professional who sells an investment product to a retirement...more

Groom Law Group, Chartered

DOL Proposes Rescinding Prior Rule Relating to Association Health Plans

On December 19, 2023, the Department of Labor (“DOL”) issued a proposed rule rescinding a Trump Administration rule that expanded the availability of association health plans (“AHPs”) (the “Proposed Rule”)....more

Carlton Fields

Expect Focus - Volume I, January 2024

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Funds Not Caged by SEC Names Rule Amendments: Roaming Room Remains - The SEC recently adopted amendments to its investment company “names” rule that apply to most SEC-registered funds, including underlying funds in which...more

Proskauer Rose LLP

A Guide to the DOL’s New Investment Advice Fiduciary Rule Proposal – What Investment Advisers and Managers Need to Know

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The new “retirement security rule” package, issued by the U.S. Department of Labor (the “DOL”) on October 31, 2023, is the latest chapter in an almost 15-year effort by the DOL to amend the five-part test in its 1975...more

ArentFox Schiff

Top 10 ESG Developments for 2023

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2023 saw terms like “ESG,” “greenwashing,” and “circular economy” come into common use. We also saw a tsunami of other environmental, social, and governance (ESG)-related developments at the international, federal, and state...more

Proskauer - Employee Benefits & Executive...

Game of Tomes: A Guide to the DOL’s Retirement Security Rule Proposal

The new “retirement security rule” package, issued by the U.S. Department of Labor (the “DOL”) on October 31, 2023, is the latest chapter in an almost 15-year effort by the DOL to amend the five-part test in its 1975...more

Cadwalader, Wickersham & Taft LLP

DOL Issues New Proposed Fiduciary Rule

On Tuesday, October 31, 2023, the U.S. Department of Labor (the "DOL") issued a new proposed rule pertaining to the definition of “fiduciary” under ERISA and Section 4975 of the Code. If adopted, the proposed rule would...more

Troutman Pepper

DOL Proposed Rule: New Definition of "Investment Advice Fiduciary"

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On October 31, the Department of Labor (DOL) released a proposed rule (the Proposed Rule) aiming to redefine and expand who qualifies as an “investment advice fiduciary” under the Employee Retirement Income Security Act of...more

Seyfarth Shaw LLP

You Can Call the DOL’s New Investment Fiduciary Rule by Another Name (“Retirement Security” Rule), but it’s Still the “Fiduciary...

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On October 31, 2023, the Department of Labor (“DOL”) issued its latest attempt at revising the rules regarding when investment professionals who provide “investment advice” to employee benefit plans or plan participants are a...more

A&O Shearman

U.S. Department of Labor proposes new fiduciary rule, again

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On October 31, 2023, the U.S. Department of Labor (“DOL”)'s Employee Benefits Security Administration (“EBSA”) proposed a new fiduciary rule (the “Proposal”). If finalized, the Proposal would (1) expand the definition of...more

Dechert LLP

ERISA Déjà-Boo? New Halloween Fiduciary Proposal May Be a Real Scream

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The Department of Labor (“DOL”) on October 31, 2023—Halloween—issued a release (the “Release”) proposing to make changes to the 1975 rule (the “1975 Rule”) defining when institutions and individuals are providing fiduciary...more

Verrill

The Department of Labor Proposes Its New Fiduciary Rule

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On October 31, 2023, the Department of Labor published a new proposed regulation (the “Proposed Rule”) defining “investment advice” for purposes of determining when someone advising an ERISA plan or participant or an IRA...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - November 2023

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Bass, Berry & Sims PLC

New Proposed Mental Health Parity Rules Amid Report of Widespread Failure

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On July 25, the Department of Labor, Department of the Treasury, and Department of Health and Human Services (the Departments) released new Proposed Rules (Proposed Rules) that clarify certain requirements imposed by the...more

Verrill

Update on the Debate over Environmental, Social, and Corporate Governance Investing

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The debate over investment of retirement plan funds based on environmental, social, and corporate governance (“ESG”) factors continues to make waves. This post provides a high-level overview of the current state of play for...more

Sullivan & Worcester

Winter 2023 Employment and Benefits Updates

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SECURE 2.0 Act - As part of a large year-end piece of legislation, the provisions known as SECURE 2.0 Act of 2022 (“SECURE 2.0”) were enacted into law. SECURE 2.0 represents a broadly bipartisan piece of legislation that...more

Blank Rome LLP

Regulatory Update and Recent SEC Actions - January 2023

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REGULATORY UPDATES - Recent SEC Leadership Changes - The Securities and Exchange Commission (the “SEC”) announced that Megan Barbero, currently SEC Principal Deputy General Counsel, will be appointed General Counsel,...more

Seyfarth Shaw LLP

PBGC Addresses Withdrawal Liability Assumptions For First Time In New Proposed Rule

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Seyfarth Synopsis: On October 14, 2022, the Pension Benefit Guaranty Corporation (“PBGC”) published its proposed rule under ERISA Section 4213 (the “Proposed Rule”), which sets forth for the first time the agency’s guidance...more

Fox Rothschild LLP

PBGC Proposes Rule Change for Withdrawal Liability Discount Rates

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In an apparent effort to resolve uncertainty caused by court rulings, the Pension Benefit Guaranty Corporation has proposed that actuaries of multiemployer pension plans should be allowed to use any interest rate for...more

Sheppard Mullin Richter & Hampton LLP

Tri-Agencies Report MHPAEA Compliance Lacking, But Don’t Name and Shame Plans and Issuers . . . Yet

On January 25, the U.S. Department of Labor (DOL), Department of Health and Human Services (HHS), and the Treasury (collectively the Tri-Agencies) published the first annual report on group health plans’ and health insurance...more

Ballard Spahr LLP

The U.S. Department of Labor Issues Proposed Rule Giving Plan Fiduciaries Greater Latitude to Invest in ESG Funds

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On October 14, 2021, the U.S. Department of Labor (DOL) released a new proposed rule, "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights," that (again) seeks to define the extent to which a...more

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