In July, two Federal District Courts in Texas issued orders staying the effective date of the Department of Labor’s (DOL) fiduciary rule (Fiduciary Rule)....more
Banks and trust companies maintaining collective investment funds (CIFs) took notice when the U.S. Securities and Exchange Commission (SEC) announced enforcement proceedings on 30 September 2020 against Great Plains Trust...more
This alert is the second in a series. In our first alert, “History and State of Play,” our global financial services policy team described the status of the Department of Labor’s (DOL) proposed rule on socially responsible...more
Private equity sponsors and other managers of private market investments, including private real estate, infrastructure, and credit (together, Private Market Investments), have long cast their eyes upon the 401(k) plan...more
Three items of key importance with respect to the Department of Labor’s (“DOL”) rule changing the definition of the term “fiduciary” (the “Fiduciary Rule”) happened on May 22, 2017:
1. Secretary of Labor Alexander Acosta...more
On an almost daily basis, there are developments regarding the status of the Department of Labor’s (“DOL”) fiduciary rule creating a climate of uncertainty. Stakeholders, such as financial institutions that serve retirement...more
In the face of controversy and following thousands of comments from market participants and lawmakers, the Department of Labor (“DOL”) has finalized sweeping changes to the definition of “fiduciary” under the Employee...more