On June 23, 2020, the United States Department of Labor proposed a rule that would place new restrictions on including environmental, social and governance (ESG) funds in employer-sponsored retirement plans. The rule is intended to provide clear regulatory guideposts for plan fiduciaries in light of recent trends involving ESG investing.
ERISA partner Josh Lichtenstein (New York) was widely cited in media on this issue, with remarks featured the following publications:
- InvestmentNews, “Former DOL officials say agency historically grants hearings on regulatory proposals,” (July 20, 2020)
- Ignites, “DOL’s ESG Rule a Step Back on Social Justice: Senate Dems,” (July 17, 2020)
- Ignites, “DOL Reg Could End 'Ping-Pong' Match on ESG in Plans,” (June 26, 2020)
- Bloomberg, “Trump Administration Targets ESG Funds With 401(k) Rule,” (June 25, 2020)
- InvestmentNews, “DOL’s stance on ESG in 401(k)s could be difficult to undo,” (June 25, 2020)
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