DOL Regulatory Agenda

On November 20, DOL released its fall regulatory agenda. The agenda includes a final rule on electronic delivery for retirement plans, a new proposed fiduciary rule (and related prohibited transaction exemptions), and continued work on open multiple employer plans. Notably, the agenda also includes a new proposed rule for proxy voting. The proxy voting proposed rule is likely in response to President Trump’s April 10 Executive Order on Promoting Energy Infrastructure and Economic Growth. The Executive Order directed DOL to study certain issues related to environmental, social, and governance (“ESG”) and review DOL’s ESG and proxy voting guidance.