Sky Blog
On March 30, 2026, the U.S. Department of Labor (the DOL) published its heavily anticipated proposed rule entitled “Fiduciary Duties in Selecting Designated Investment Alternatives” (the Proposed Rule).[1] Over the years, sponsors of private funds and other investment vehicles …
With the U.S. Department of Labor’s recent proposed rule, Fiduciary Duties in Selecting Designated Investment Alternatives, retail investors’ access to private assets comes ever closer to reality, though not without controversy. The battle lines are unsurprising: Private asset managers …
401(k) accounts are where most Americans put their financial assets.1 President Trump appears determined to prod them to invest those accounts in “alternative investments,” most prominently, private equity. To that end, in Executive Order 14330, the president ordered the Department …
The backlash against environmental, social, and governance (“ESG”) investing has been swift and fierce. More than 20 U.S. states have passed laws or taken administrative action targeting ESG considerations in asset management. Flows into ESG funds have slowed, and for …
President Trump’s August 7, 2025 retirement plan Executive Order underscores the administration’s objective to make alternative assets available to defined-contribution plan participants. Below, we identify four steps the Department of Labor and the Securities and Exchange Commission should prioritize to …
On August 7, 2025, the Trump Administration released the heavily anticipated Executive Order, “Democratizing Access to Alternative Assets for 401(k) Investors” (the “Executive Order”), which represents a significant development and a positive step toward facilitating investment by defined …
On April 23, 2024, the U.S. Department of Labor (“DOL” or “Department”) released its final fiduciary rule, marking the completion of its third attempt since 2010 to update the definition of what it means to be an investment advice fiduciary …
In the latest development in a long-running regulatory saga, the U.S. Department of Labor (DOL) on October 31, again proposed major changes (the Proposal) to the fiduciary rules applicable to the offering of financial products to most individual retirement accounts …
In recent years, few topics within the U.S. Department of Labor’s (the “DOL”) purview have garnered as much interest as the potential consideration of environmental, social and governance (“ESG”) factors by fiduciaries of plans subject to the U.S. Employee Retirement …
The U.S. Department of Labor (the “DOL”) recently issued a final rule (the “Final Rule”) that seeks to clarify the circumstances under which a fiduciary subject to ERISA may consider climate change and other environmental, social …
In a March 15, 2018 decision in Chamber of Commerce of the United States v. United States Department of Labor, the United States Court of Appeals for the Fifth Circuit vacated in its entirety the so-called “Fiduciary Rule” promulgated …