Biden’s Modernizing Regulatory Review – A New Paradigm?
#WorkforceWednesday: COVID-19 Executive Actions, Right-to-Sue Notices, and Liability Shields
On its first day in office, the Biden Administration acted to reverse numerous hardline immigration policies from the prior administration and to advance immigration reforms. Some action comes in the form of executive orders...more
The Secretaries of the Departments of Treasury, Commerce, and Labor have been directed to review and report on the pension funding crisis in an October 22, 2020, Presidential Memorandum. The Memorandum brings renewed...more
On August 8, 2020, the President issued an executive memoranda establishing the Lost Wages Assistance (“LWA”) program, a new unemployment benefit intended to replace the recently-expired $600 per week Federal Pandemic...more
The CARES Act’s federal unemployment insurance supplement has expired, and a new executive order from the President has taken its place – for now....more
LABOR & EMPLOYMENT LAW - DoL Collected a Record Amount in Discrimination Settlements in Fiscal Year 2019 - According to Bloomberg Government, the Department of Labor (DoL) collected more than $27 million from federal...more
On November 27, 2017, the U.S. Department of Labor (DOL) extended the transition period for its conflict of interest regulation (commonly referred to as the "fiduciary rule") until July 1, 2019....more
On August 9, 2017, the U.S. Department of Labor (DOL) submitted to the Office of Management and Budget (OMB) a proposal to delay until July 1, 2019 the implementation date for those portions of the DOL’s fiduciary rule that...more
The U.S. Department of Labor (the “DOL”) today (August 9, 2017) submitted a Notice of Administrative Action in the Thrivent v. Acosta litigation (D. Minn.). The Notice relates to the final regulation that defines who is a...more
The U.S. Department of Labor (the “DOL”) published in the Federal Register on July 6, 2017 a Request for Information (the “RFI”) regarding the final regulation defining who is a “fiduciary” of an employee benefit plan as a...more
On June 29, 2017, the Department of Labor (“DOL”) issued a Request for Information (“RFI”) in connection with its examination of the Final Fiduciary Rule, which was published on April 8, 2016, and became applicable on June 9,...more
The Department of Labor has issued guidance in the form of Frequently Asked Questions to help firms and their advisers impacted by the Fiduciary Rule know what is expected on and after June 9, 2017, on and after January 1,...more
On May 22, 2017, Secretary of Labor Alexander Acosta announced that the DOL has found no “principled legal basis” to further delay the June 9, 2017 applicability date of its “fiduciary rule.”...more
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
The delay came in response to the Presidential Memorandum issued on February 3, 2017, regarding the Fiduciary Rule. The Presidential Memorandum directed the DOL to conduct an updated impact assessment on whether the Rule “may...more
On April 4, the US Department of Labor (DOL) pushed the applicability date of what is commonly referred to as the "fiduciary rule" or the "fiduciary advice rule" (the "Rule") from April 10 to June 9, 2017. The full text of...more
On April 4, 2017, the Department of Labor released its final rule postponing the applicability date of its new “investment advice” fiduciary definition and related exemptions. This extension, which was published in the April...more
After a brief hiatus, Proskauer's ERISA Newsletter is back with a brand new look. We hope you like it and find it is easier to navigate. In addition to implementing our new format, we have moved to a quarterly publication...more
Impartial Conduct Standards to Become Effective on June 9, 2017 Other Provisions Are Subject of Further Evaluation Prior to January 1, 2018 Implementation Date - Late in the day on April 4, 2017, the Department of Labor...more
The US Department of Labor proposed to extend the applicability dates of the fiduciary rule and related exemptions, including the Best Interest Contract Exemption, from April 10, 2017 to June 9, 2017....more
On March 2, the US Department of Labor (DOL) published a proposed extension (the "Proposal") of the effective date of what is commonly referred to as the "fiduciary rule" or the "fiduciary advice rule" (the "Rule"). The Rule...more
On March 1, the Department of Labor (DOL) proposed a 60-day delay of the April 10, 2017 applicability date of its fiduciary conflict-of-interest rule and related prohibited transaction exemptions (PTEs). The delay was...more
60-day delay proposed, comments requested on president’s study. The US Department of Labor (DOL) has proposed to delay the applicability date of the fiduciary rule (and related prohibited transaction exemptions) by 60...more
The DOL’s proposal comes in response to the Presidential Memorandum issued on February 3, 2017, regarding the Fiduciary Rule. The Presidential Memorandum directed the DOL to conduct an updated impact assessment on whether the...more
On March 1, 2017, the Department of Labor issued a proposed rule that, when finalized, will delay the applicability date of its “fiduciary rule” and related exemptions to June 9, 2017, which is 60 days from its original...more
We’ve previously written about the Department of Labor’s new fiduciary rule, which expands the definition of who is considered a fiduciary under the Employee Retirement Income Security Act, as amended (“ERISA”) and the...more