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

Ballard Spahr LLP

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 plan fiduciary may take into account Environmental, Social, and Governance (ESG) factors in investing plan assets. The proposed rule also addresses a plan fiduciary’s duty to manage shareholder rights appurtenant to investments in shares of stock, such as proxy voting.

Please see full Publication below for more information.

Originally published in Tax Management Compensation Planning Journal on December 3, 2021.

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