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ESG, Fiduciary Rules Coming Later This Year, DOL Official Says

June 25, 2021, 9:35 PM

The U.S. Labor Department’s employee benefits agency will issue new rulemaking on environmental, social, and corporate governance retirement investing and proxy voting in September and plans to revise its rule on the definition of a fiduciary by the end of this year.

The Employee Benefits Security Administration, which regulates private-sector employee benefits, is under pressure from the White House to revise rules the prior administration attempted to enact late last year curbing socially conscious investing and voting. Acting Assistant Secretary Ali Khawar said the agency is taking a fast-track approach to its draft proposal process to comply with President Joe ...

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