I just published, on March 1, my article “New President, New Hope, New ESG Policy. . . Maybe.” discussing how the Biden administration would be reviewing the Department of Labor regulations finalized on November 13, 2020 (under the Trump administration) and effective January 12, 2021, regarding the investment duties of fiduciaries under ERISA
Fiduciary duties
New President, New Hope, New ESG Policy. . . Maybe.
By Scott E. Galbreath, J.D., LL.M (Tax) on
Posted in Fiduciary duties
A lot has happened in 2021 already. The election of Joe Biden as President was certified by the Senate after an unprecedented attack on the Capitol on January 6. The House of Representatives impeached former President Donald Trump one week later. Biden was inaugurated on January 20 at a heavily secured ceremony.
The inauguration was…
SCOTUS: No Damage, No Standing For DB Participants
By Scott E. Galbreath, J.D., LL.M (Tax) on
Posted in Fiduciary duties
When is a fiduciary breach not a fiduciary breach? When the complaining retiree-participants do not have standing because they have not missed receiving a defined benefit pension plan payment, according to Justice Kavanaugh writing for the majority opinion of the U.S. Supreme Court in James J. Thole et al. v. U.S. Bank NA et al., …
“Actual” Actually Means “Actual” When It Comes To Knowledge Say Supremes
By Scott E. Galbreath, J.D., LL.M (Tax) on
Posted in Fiduciary duties
On February 26, 2020, the United States Supreme Court unanimously held that a participant could not be considered to have “actual knowledge” of the employer’s conduct alleged to be a breach of fiduciary duty when such conduct was disclosed in email and Web site disclosures when the participant can’t remember actually receiving or reading the…