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Department of Labor

14 articles

Articles tagged "Department of Labor"

Todd J. Drowlette: 'If they actually allowed Americans to invest in the way that they make it sound, it would be amazing.'

Aug 13, 2025

DOL's brass denounces Biden for stifling private 401(k) investments, yet bars plan participants -- even plan sponsors -- from picking direct investments; deferring to 'the BlackRocks of the world'

The Labor Secretary admonished how the former administration 'put its thumb on the scale to pick winners and losers,' but admits that investors still have no say in picking assets.

Lori Chavez-DeRemer: I applaud President Trump.

Aug 8, 2025

Trump Labor Secretary 'applauds' Trump and his executive order to put 'alts' in 401(k)s, but president is overstepping Congress, fiduciary expert says

The DOL says it is being directed to loosen up fiduciaries to apply best judgment when selecting investments without fear of legal ramifications.

Lisa M. Gomez: Our goal ... is to make sure that workers and their beneficiaries receive all their retirement benefits.

Dec 13, 2024

DOL program to reunite $1.65 trillion of 401(k) assets with plan participants is long, long overdue; it's also little threat to VC-backed startup with overlapping mission -- and big head start

Gaurav Sharma, founder of Capitalize, explains in RIABiz Q&A, that Labor Dept. will need help -- lots of it -- but that SECURE 2.0 made it possible to begin to address.

Lisa M. Gomez: There is a particular need for automatic portability solutions.

Feb 6, 2024

'Portability' is set to boost and solidify $9.3 trillion 401(k) system by eliminating cash-outs, rollovers and fragmented (orphaned) plans

The Labor Dept. finally found the political will to make savers save and create a lifetime mentality -- with a boost from technology to make a decentralized system work in symphony.

Jason Roberts: There were lessons learned during the last rulemaking that may expedite some of the drafting and/or avoiding.

Nov 23, 2022

The Labor Dept. will publish the proposed 'Biden' DOL Fiduciary Rule (likely) next week, it says, but today it de-fanged the Trump ESG prohibitions

Two years after President Biden took office, the federal agency is ready to unleash a centrist DOL rule that eviscerates Trump's influence but stops short of Obama's stringent proposal.

Aron Szapiro: Undoing this rule is key to mainstreaming ESG.

Oct 14, 2021

Big effect of DOL's proposed undoing of Trump-era 401(k) ESG investing chill is to permit ESGs TDFs as default option where BlackRock and Natixis have products

The Labor Dept. stops short of giving fiduciaries environmental, social and governance factor carte blanche but recognizes non-pecuniary factors are legit considerations.

Phyllis Borzi: Trump administration didn't follow the customary 60-day comment period expected.

Sep 4, 2020

Trump administration 'ramrodding' DOL rule to beat 2020 presidential election, depriving advisors ability to comment, says Ex-Obama DOL official Phyllis Borzi, the 'Godmother' of ERISA

The Trump administration is trying to wave a magic wand, and it's going to work, but it may make matters worse for the pro-suitability lobby if Joe Biden becomes President

Marcia Wagner: The new rules may appear more lax, but the Obama Administration rules may have been overkill.

Jun 4, 2020

New 'anti-regulatory' DOL Fiduciary Rule figures to keep $10-trillion IRA market under the IRS, allow some conflicted advice; does Rule's revival from dead presage Joe Biden presidency?

The rush to enact rewritten DOL Fiduciary Rule is a 'mystery' given Wall Street's presumed preference for defaulting to status quo; has presidential polling adverse to Donald Trump restored a sense of urgency?

Phyllis Borzi: We're troubled by this and employers are having a hard time finding the documents they're looking for.

Mar 11, 2014

Phyllis Borzi tightens the noose on 401(k) providers that flout DOL disclosure, not without critics

The idea is to have a de facto big red arrow pointing to key disclosures on revenue sharing but it'll add to the verbiage surplus

Matthew Hutcheson testified in Congress about 401(k) plans and now the DOL is breathing down his neck.

May 10, 2012

What to make of a fiduciary flag-bearer's alleged misappropriation of $5 million from clients -- and his denial of the charges

Arrest of Matthew Hutcheson raises questions about the fiduciary movement

Phyllis Borzi: If it gets rid of schlocky advice, that’s okay with me.

Oct 22, 2010

Proposed DOL regs expose more advisors to fiduciary liability

Language of rules amounts to better ammo for lawyers

If only the conference commitee room were this peaceful.

Jun 18, 2010

Regulatory Wire: former SEC chairs slam financial services reform

Plus, DOL's new webinar on 401(k) compliance; the SEC speaks on target date funds; and questions about Stoneridge

If Congress passes financial reform, it only sets the stage for a new host of FINRA, SEC and DOL issues

May 14, 2010

Regulatory Wire (Updated): To create a successful new regulatory regime, the biggest fears of both broker-dealers and advisors must be assuaged

Plus, a DOL administrator offers hints of new 401(k) regulations to come this fall

Lou Harvey: The bigger impact is on IRAs, not 401ks. There are a heck of a lot more IRAs out there and advisers involved in IRAs.

Mar 4, 2010

IRA assets could be ripped from the grasp of brokers if DOL has its way

With brokers disqualified, fee-only advisors may have 'phenomenal' opportunity to dominate $4.1 trillion IRA market

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Department of Labor

Articles tagged "Department of Labor"

DOL's brass denounces Biden for stifling private 401(k) investments, yet bars plan participants -- even plan sponsors -- from picking direct investments; deferring to 'the BlackRocks of the world'

Trump Labor Secretary 'applauds' Trump and his executive order to put 'alts' in 401(k)s, but president is overstepping Congress, fiduciary expert says

DOL program to reunite $1.65 trillion of 401(k) assets with plan participants is long, long overdue; it's also little threat to VC-backed startup with overlapping mission -- and big head start

'Portability' is set to boost and solidify $9.3 trillion 401(k) system by eliminating cash-outs, rollovers and fragmented (orphaned) plans

The Labor Dept. will publish the proposed 'Biden' DOL Fiduciary Rule (likely) next week, it says, but today it de-fanged the Trump ESG prohibitions

Big effect of DOL's proposed undoing of Trump-era 401(k) ESG investing chill is to permit ESGs TDFs as default option where BlackRock and Natixis have products

Trump administration 'ramrodding' DOL rule to beat 2020 presidential election, depriving advisors ability to comment, says Ex-Obama DOL official Phyllis Borzi, the 'Godmother' of ERISA

New 'anti-regulatory' DOL Fiduciary Rule figures to keep $10-trillion IRA market under the IRS, allow some conflicted advice; does Rule's revival from dead presage Joe Biden presidency?

Phyllis Borzi tightens the noose on 401(k) providers that flout DOL disclosure, not without critics

What to make of a fiduciary flag-bearer's alleged misappropriation of $5 million from clients -- and his denial of the charges

Proposed DOL regs expose more advisors to fiduciary liability

Regulatory Wire: former SEC chairs slam financial services reform

Regulatory Wire (Updated): To create a successful new regulatory regime, the biggest fears of both broker-dealers and advisors must be assuaged

IRA assets could be ripped from the grasp of brokers if DOL has its way

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