United States: Department of Labor ESG and Cryptocurrency-Related Matters
By: Robert L. Sichel, Ruth E. Delaney, William P. Wade, and Lael R. Franco
The Department of Labor will engage in new rulemaking to replace Biden era regulations labeled “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights” that allowed plan fiduciaries may consider ESG factors when choosing ERISA retirement plan investments. The Department announced its intention in a filing to the Fifth Circuit Court of Appeals in connection with a legal challenge to the regulations.
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