News & Analysis as of

Fiduciary Duty Proxy Voting

Goodwin

Minding the Store: Unanticipated ESG Issues Affecting ERISA Fiduciary Supervision

Goodwin on

A recent summary judgment decision from the U.S. District Court for the Northern District of Texas in an ERISA (Employee Retirement Income Security Act) class action challenging the alleged impact of environmental, social,...more

Morrison & Foerster LLP

Investment Adviser Compliance Index - March 2024

The Investment Advisers Act of 1940 (the “Advisers Act”) is a relatively compact statute, and for many years the Securities and Exchange Commission (SEC) adopted relatively few regulations specifically targeting Advisers Act...more

ArentFox Schiff

Airline 401k Decision Illustrates Continued Takeoff of ESG Litigation

ArentFox Schiff on

A Texas federal judge recently permitted an environmental, social, and governance- (ESG) related Employee Retirement Income Security Act (ERISA) case filed by an airline pilot against his employer and its benefits plan to...more

Seward & Kissel LLP

Action Steps for Managers of Private Investment Funds Subject to ERISA Prior to December 1, 2023 to Address the DOL’s Rule...

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If you manage a private investment fund that is subject to Title I of ERISA and is not a feeder fund (an “ERISA Fund”), you should, before December 1, 2023, take the steps described below in order to comply with the DOL’s...more

Proskauer - Employee Benefits & Executive...

[Podcast] DOL’s 2022 Final ESG Rules

In this episode of The Proskauer Benefits Brief, Proskauer partners Ira Bogner and Adam Scoll and law clerk Tanusha Yarlagadda discuss the Department of Labor’s final ESG rules issued on November 22, 2022, and how those rules...more

Latham & Watkins LLP

DOL Final Rule on ESG Factors to Take Effect February 1, 2023

Latham & Watkins LLP on

The Final Rule clarifies the application of ERISA’s fiduciary duties of prudence and loyalty to the selection of plan investments that incorporate ESG goals. On November 22, 2022, the US Department of Labor (DOL) released a...more

Miller Canfield

ERISA and ESG: Less Confusion?

Miller Canfield on

​​​​​​​Last year the Department of Labor (“DOL”) proposed changes to ERISA regulations that govern the consideration of environmental, social, and governance (“ESG”) factors in retirement plans, as well as fiduciary...more

K&L Gates LLP

ESG Investing and Proxy Voting: DOL's New Final Rule

K&L Gates LLP on

Executive Summary: The Department of Labor released a final rule that addresses fiduciary duties when (1) considering ESG factors in selecting investments, and (2) considering whether and how to vote proxies, for plans...more

Cadwalader, Wickersham & Taft LLP

DOL Issues Final Rule Amending Investment Duties Regulation – Provides New Guidance on Consideration of ESG Factors in Plan...

On November 22, the United States Department of Labor (“DOL”) released its final rule (the “Final Rule”) adopting certain revisions to its investment duties regulation under ERISA at 29 CFR Section 2550.404a-1 (the “Section...more

Proskauer - Employee Benefits & Executive...

DOL’s Final ESG Rules Reflect Warmer Attitude Toward ESG, But Maintain Bedrock Principle that Risk and Return Cannot Be Sacrificed

On November 22, 2022, the U.S. Department of Labor’s Employee Benefits Security Administration (the “DOL”) released final regulations (the “Final Rules”) that are intended to be more supportive of ERISA fiduciaries...more

Akin Gump Strauss Hauer & Feld LLP

DOL’s Final ESG Investing and Proxy Voting Regulation – Impact on ERISA Fiduciaries and Private Fund Managers

On November 22, 2022, the U.S. Department of Labor (DOL) issued a final regulation amending prior regulations, adopted in 2020, relating to environmental, social and corporate governance (ESG) considerations in investment and...more

Groom Law Group, Chartered

DOL Finalizes ESG, Proxy Voting Regulation

The Department of Labor (the “DOL”) recently finalized a regulation amending the rules under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), related to the selection of plan investments and the...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - November 2022

The November Monthly Minute examines the new DOL final rule addressing fiduciary duties relating to ESG investing and shareholder rights, and a DOL proposed rule that would permit self-correction of late employee...more

Seward & Kissel LLP

SEC Rescinds Supplemental Proxy Voting Guidance for Investment Advisers

Seward & Kissel LLP on

On July 13, 2022, the Securities and Exchange Commission (the “SEC”) adopted amendments to its rules governing proxy voting. In addition to rescinding rules applicable to third-party proxy voting advice businesses (“proxy...more

Wiley Rein LLP

SEC Enforcement Related to ESG Investing Likely to Increase in 2022

Wiley Rein LLP on

In March 2021, the U.S. Securities and Exchange Commission (SEC) created a Climate and Environmental, Social, and Governance (ESG) Task Force (ESG Task Force) within the Division of Enforcement, the purpose of which is to...more

Perkins Coie

DOL Proposes Expanded Use of ESG Factors in ERISA Plan Investment Decisions and Proxy Voting

Perkins Coie on

The U.S. Department of Labor (DOL) published a proposed regulation on October 14, 2021, that would clarify how fiduciaries of private sector employee benefit plans should apply ERISA’s fiduciary duties of prudence and loyalty...more

Akin Gump Strauss Hauer & Feld LLP

DOL’s ESG and Proxy Voting Proposal—Impact on ERISA Fiduciaries and Private Fund Managers

On October 13, 2021, the U.S. Department of Labor (DOL) issued a proposed regulation that would, if adopted, amend existing regulations, adopted in 2020, relating to environmental, social and corporate governance (ESG)...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

DOL won’t enforce ESG and proxy voting rules

Not surprising most of us, the Department of Labor (DOL)’s Employee Benefits Security Administration (EBSA) announced that it won’t enforce recently published rules on Environmental, social, and governance (ESG) investments...more

King & Spalding

Enforcement of ESG Rules Restricting ERISA Retirement Plans on Hold

King & Spalding on

The U.S. Department of Labor will not enforce two of its final rules, published in November and December 2020, restricting ERISA retirement plans’ consideration of environmental, social, and governance (“ESG”) factors in the...more

Proskauer - Employee Benefits & Executive...

Biden Administration Requests Review of DOL’s Final “ESG” Rules for ERISA Fiduciaries – What Does that Mean for the DOL’s Final...

On October 30, 2020, the U.S. Department of Labor (the “DOL”) issued a final rule on “ESG” investing which requires ERISA plan fiduciaries to base investment decisions on financial factors alone, prohibits fiduciaries from...more

K&L Gates LLP

Trump Era DOL Rules - Will They Remain Under a Biden Administration?

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The Department of Labor (DOL) Employee Benefits Security Administration (EBSA) recently finalized a series of rules viewed as key Trump administration priorities. The rules include: Prohibited Transaction Exemption 2020-02,...more

Morgan Lewis

DOL’s Final ERISA Proxy Voting Rule Largely Changed to Principles-based Approach

Morgan Lewis on

The US Department of Labor (DOL) has released its final rule on the application of ERISA fiduciary duties—specifically the duties of prudence and loyalty—to proxy voting and the exercise of shareholder rights. It takes effect...more

Dechert LLP

Voting on Principle – ERISA Proxy Regulation Finalized

Dechert LLP on

Overview - At the end of last week, on December 11, 2020, the Department of Labor (the “DOL”) released a Final Rule, Fiduciary Duties Regarding Proxy Voting and Shareholder Rights (the “Final Rule”), which addresses the...more

Goodwin

ISS Publishes 2021 Proxy Voting Guidelines

Goodwin on

In the News. Institutional Shareholder Services (ISS) published its proxy voting guidelines updates for 2021, which include new and updated voting recommendations on federal forum and exclusive forum provisions in companies’...more

Epstein Becker & Green

[Webinar] Hot Topics and Trends in Employee Benefits for 2021 - December 3rd, 12:00 pm - 1:00 pm ET

Epstein Becker & Green on

Please join us for our live Hot Topics and Trends in Employee Benefits for 2021 webinar on Thursday, December 3, 2020. Attorneys from our Employee Benefits and Executive Compensation practice will provide insights on current...more

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