ESG factors can be considered only to garner the highest risk-adjusted returns
In Wisconsin and Texas district courts, plaintiffs are suing government officials to block the Labor Department’s new rule on ERISA investment duties with regard to environmental, social, and governance factors. They contend that the so-called Biden Rule violates the law and, in the case of the Texas complaint, has hurt businesses.
The reason for the similarity is that both rules are tightly constrained by ERISA, as interpreted by the Supreme Court in 2014 . The Supreme Court, in a unanimous decision, said very clearly that fiduciary investment decisions must be made for the exclusive purpose of maximizing risk-adjusted returns. Both the final Biden Rule and the final Trump Rule make it very clear that a fiduciary cannot make an investment decision for any other purpose.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Reason Melania & Barron Trump Left Trump Tower With Packed Bags on Donald Trump’s BirthdayMelania Trump is a very independent woman.
Read more »
Is the Right Satisfied With Hunter Biden’s Guilty Pleas? (LOL, No.)The younger Biden's impending convictions have triggered calls for EVEN MORE Biden prosecutions.
Read more »
Hunter Biden, President Biden's son, to plead guilty to federal chargesHunter Biden will plead guilty to misdemeanor tax offenses and is expected to reach an agreement with prosecutors on the felony charge of illegally possessing a firearm as a drug user.
Read more »
Republicans vow to keep investigating Biden family in wake of Hunter Biden plea dealHouse Republicans, who have made one of their top priorities this session probing Hunter Biden and the Biden family's business dealings, still say they plan to continue their investigations despite Hunter Biden's plea deal with prosecutors.
Read more »