Tag: DOL

Wells Fargo Pulls Back on Decision to Use T Shares

Although it did answer the question of whether the decision was made in response to the 5th U.S. Circuit Court of Appeals mandate to vacate the DOL’s fiduciary rule, it is clear that T shares and so-called “clean shares” were created to comply with the rule.

GAO Explores Why Few Retirement Plans Embrace ESG Investing

GAO says in other cases where plans may face complexity, such as selecting a target-date fund or monitoring pension consultants, the DOL has provided general information, including items to consider and questions to ask. It suggests that the DOL do the same with ESG investing.

ERIC Calls Foul in DOL’s Missing Participant Push

In an open letter asking for more detailed guidance, the ERISA Industry Committee spells out what it says are “examples of missteps” by the DOL, including “issuing letters asserting breaches of fiduciary duty when there is no applicable legal guidance.”

IRS and DOL Asked for Better Guidance on Missing Participants

The Plan Sponsor Council of America has heard concerns from its members that they have been or may be subjected to enforcement actions even though the DOL and IRS have not issued comprehensive guidance on missing participants that provide a clear roadmap for compliance.

Cerulli Analysts Tackle Tough Topic of ESG ‘Materiality’

While not a new concept, materiality is essential to efficiently integrating ESG factors into the investment process; it all boils down to being able to determine which ESG factors are likely to be linked to stronger investment performance by identifying risks that are related to certain industries.

5th Circuit Officially Mandates Decision to Vacate DOL Fiduciary Rule

Industry stakeholders immediately offered their thoughts on the complex regulatory saga that has surrounded the now-defeated DOL fiduciary rule; depending on their position in the industry and their particular client service philosophy, some providers are hailing this step as a victory, while others are bemoaning it.