The John Minor Wisdom U.S. Courthouse, home of the United States Court of Appeals for the Fifth Circuit, in New Orleans, Louisiana. May 31, 2007. Credit: Bobak Ha'Eri (OK TO USE PER WIKIMEDIA COMMONS).. Federal Appeals Court Weighs Fiduciary Rule for Financial Retirement Plans
Two energy companies were joined by 26 GOP attorneys general in opposing an ERISA rule that clarifies climate change and diversity as issues protected by the environment, social and governance factors fiduciaries can consider when preparing retirement funds for clients.
July 09, 2024 at 04:18 PM
4 minute read
Regulation
What You Need to Know
- An appellate panel appeared skeptical about striking an ERISA rule on environmental, social and governance issues for fiduciaries creating retirement plans.
- Two energy companies and 26 GOP attorneys general protested the 2022 DOL rule.
- Eighteen states and the District of Columbia filed amici in support of the DOL.
Two energy companies, joined by 26 attorneys general from Republican-controlled states, argued to a federal appellate panel against a Biden Administration rule clarifying social factors when considering retirement plan investments.
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