News & Analysis as of

The United States Department of Labor

The United States Department of Labor is a federal executive department established in 1913 and headed by the Secretary of Labor. The Department's mission is to promote workers's general welfare and... more +
The United States Department of Labor is a federal executive department established in 1913 and headed by the Secretary of Labor. The Department's mission is to promote workers's general welfare and improve working conditions. less -

Fiduciary Rule ? No Further Delays

by K&L Gates LLP on

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

Fiduciary Rule to Go Into Effect but DOL Provides Temporary Non-Enforcement Policy

by Snell & Wilmer on

As reported in our April 18th blog, the Department of Labor (“DOL”) officially delayed the applicability of the Fiduciary Rule for 60 days, until June 9, 2017. Given the multiple delays leading up to the proposed June 9th...more

A victory for attorney-client confidentiality: DOL takes formal steps to rescind controversial persuader regulation

by Thompson Coburn LLP on

In March 2016, the DOL issued a new regulation that greatly expanded the obligations of employers and their attorneys to publicly file sensitive information regarding so-called “persuader activity.” Under the regulation,...more

Financial Services Weekly News - May 2017 #4

by Goodwin on

Editor's Note - Memorial Day. On Memorial Day, we will be celebrating the men and women whose service and sacrifice ensures the preservation of freedom and opportunity across the United States. Rather than summarize the...more

No Additional Delay on Effective Date of New Fiduciary Standards – DOL

This week, new U.S. Department of Labor Secretary Acosta announced that the final fiduciary regulations would go into effect on June 9, 2017. The Department also issued two pieces of guidance with regard to the regulations...more

Trumpdate: Proposed Budget Shows “Yuuuge” Changes Afoot In Labor And Employment Arena

Yesterday, the Trump Administration released its proposed budget for Fiscal Year 2018, which runs from October 1, 2017, through September 30, 2018. Here are the highlights related to labor and employment law, and there are a...more

DOL Signals the Fiduciary Rule Will Become Final

The Department of Labor (DOL) has now made clear that it intends for its controversial “Fiduciary Rule” to become effective on June 9, 2017. The Fiduciary Rule expands the definition of “fiduciary investment advice” under...more

DOL Takes Significant Step Forward in Rescinding Persuader Rule

by Conn Maciel Carey LLP on

This week the Department of Labor (“DOL”) submitted a proposed rulemaking that would rescind the regulation commonly termed the “Persuader Rule” to the Office of Management and Budget’s Office of Information and Regulatory...more

Portions Of The DOL Fiduciary Rule To Go Forward On June 9, 2017

by SmithAmundsen LLC on

Secretary of Labor Alexander Acosta announced on Monday that portions of the controversial Department of Labor (DOL) fiduciary rule will go into effect as planned on June 9, 2017, with full implementation of the rule on...more

No Delay of DOL Fiduciary Rule’s June 9 Applicability Date; Additional Guidance Issued

by McGuireWoods LLP on

Earlier this week, Secretary of Labor Alexander Acosta indicated in a Wall Street Journal op-ed article that there will be no further delay as to the parts of the fiduciary rule issued by the Department of Labor (DOL) that...more

Eyes on Washington: FY 2018 Budget Request

by Holland & Knight LLP on

The Trump Administration on May 23, 2017, released a full budget blueprint for FY 2018, titled A New Foundation for American Greatness. The full FY 2018 budget proposal is based on the March 2017 "skinny" budget outline. The...more

Applicability Date for DOL Conflict of Interest Rule is Looming

by Winstead PC on

As you may be aware, the Department of Labor’s (DOL’s) Conflict of Interest rule expands the scope of the definition of “fiduciary” under ERISA and the Code to cover more classes of financial advisers. While the final rule...more

Living with the DOL Fiduciary Rule: Be Prepared for the June 9 Implementation Date

by Morrison & Foerster LLP on

The first phase of the Department of Labor’s (“DOL”) new fiduciary rule (“Fiduciary Rule”) is scheduled to be implemented on June 9, 2017. The Fiduciary Rule greatly expands the categories of persons who are deemed...more

Department of Labor Provides Guidance on Fiduciary Rule Transition Period

by Ropes & Gray LLP on

On May 22, 2017, the U.S. Department of Labor (the “DOL”) released a new set of FAQs confirming that the compliance date for the fiduciary rule will remain June 9, 2017 (with compliance required as of 11:59 PM on that date)...more

President's Budget Proposes Paid Leave, Funding Cuts, and Merger of OFCCP and EEOC

by Littler on

President Trump has released his proposed federal budget, setting out his priorities for the 2018 fiscal year, which begins October 1. As anticipated, the budget represents a marked shift in potential government spending; it...more

Department of Labor’s New Fiduciary Rule Will Go Into Effect June 9th

The Department of Labor has announced that the new fiduciary conflict of interest rule and related exemptions will begin taking effect on June 9, 2017, ending speculation of further delay. At the same time, the Department...more

U.S. Department of Labor Begins Process To Rescind Obama Administration’s “Defective” Persuader Rule Overhaul

by McGuireWoods LLP on

Secretary of Labor Alexander Acosta has formally initiated the process for rescission of the 2016 DOL regulations narrowing the “advice exemption” to the LMRDA’s so-called “persuader rule.” The Office of Management and...more

Travel Agencies Hail Proposed Legislation Providing Overtime Exemption, But Employment Bills in General Face Uphill Battle

by Littler on

Last week Rep. Francis Rooney (R-FL) introduced a bill that would remove travel agents from the Department of Labor's list of workers that cannot qualify for the Fair Labor Standards Act's (FLSA) overtime exemption for retail...more

Legislation Relating to Capital Formation

As the 115th United States Congress is currently in session, a number of bills designed to promote capital raising for companies have been introduced in both the House and the Senate. In the last two months, both the House...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

We learned pretty early on that VW wasn’t alone in employing emissions-cheating software to get around environmental regs. But until now, it’s borne the brunt of the bad press for its actions. Well, with Fiat Chrysler’s DOJ...more

Will The Fiduciary Rule Live on Even if it is Repealed?

by Burr & Forman on

The Department of Labor fiduciary rule was supposed to be implemented on April 10, 2017. That date was pushed back to June 9 so that it could be reassessed, and possibly modified or even repealed. The rule as it stands...more

Senate Votes to Revoke Department of Labor Guidance on State-Run Retirement Plans for Private Sector Employees

by Franczek Radelet P.C. on

In yet another move to roll-back regulatory guidance issued during the Obama administration, earlier this month the U.S. Senate voted to revoke a final rule and associated interpretive guidance that the Department of Labor...more

Proposed Merger Of EEOC, OFCCP Faces Opposition From Both Sides

Last week, I wrote about a report in Bloomberg BNA that the Trump Administration was thinking about letting the Equal Employment Opportunity Commission “absorb” the Office of Federal Contract Compliance Programs. The idea had...more

Trump’s Religious Freedom EO May Set Stage for Future Expansion of Religious Exercise in the Workplace

On May 4, 2017, the President signed the Executive Order Promoting Free Speech and Liberty (the “EO”). The EO’s stated policy is to “vigorously enforce Federal law’s robust protections for religious freedom.” An early version...more

Presidential Actions on Regulatory Rollback: The Order of the Orders

Since his inauguration on January 20, 2017, President Trump has issued a number of presidential orders and memoranda relating to the reduction of regulation. ...more

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