In a Pensions & Investments article, ERISA and benefits partner Josh Lichtenstein, who heads the firm’s ERISA fiduciary practice and co-leads the firm’s collective investment trust (CIT) practice, discussed how U.S. Department of Labor (DOL) guidance is creating new risks for ERISA plan sponsors by aiming to place more proxy firms as investment advice fiduciaries.
Josh explained that the new DOL guidance warrants review of existing arrangements between ERISA fiduciaries and proxy-advisor firms.
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