Wednesday, September 20th, 2023 A topical newsletter from PLANSPONSOR Compliance Information for defined contribution plan sponsors about regulation, compliance and enforcement. Compliance Republicans Challenge Acting Secretary of Labor’s Authority Amid Rumors of New Fiduciary Rule Industry watchers expect the Department of Labor to submit a proposed new rule this month. Compliance Lawmakers From Both Parties Call on SEC to Withdraw Swing Pricing Rule Opponents say the proposed regulation on mutual funds would create a two-tiered system that disadvantages retail and retirement investors. Compliance Department of Labor Recovers $22.5M for ESOP The plan’s former trustee, Reliance Trust Company, settled a complaint following an investigation. Compliance American Airlines Files Motion to Dismiss The back-and-forth between the former pilot and the air line over ESG considerations continues in federal court in Texas. Compliance Plan Sponsor Groups Send Amicus Brief in Defense of AT&T Industry advocates submitted a brief encouraging the 9th Circuit to rehear a decision against AT&T in a 2017 excessive fee case. Compliance Congressional Republicans Oppose DOL Proposal of New Fiduciary Rule A notice of rulemaking has not been issued yet, but Republican leaders are already discouraging the Department of Labor from proposing a new fiduciary rule. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Spotlight directly in your mailbox!

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