With multiple European and South American countries promising an affordable retirement, Americans are increasingly renouncing U.S. citizenship and expatriating, some gaining citizenship, outside the United...
Lease security deposit deductions typically cover repair costs for damages beyond normal wear and tear and cleaning expenses when rentals are returned in substandard condition. However, landlords and tenants...
Indemnification provisions and representations and warranties are critical components in private target acquisition agreements because they determine the allocation of post-closing transaction risks. Once...
This practice note covers dietary supplement structure/function claims and the laws and regulations, administrative guidance, and federal cases that govern them. Read now » Related Content ...
Do you need a day of rest policy for retail employees based in Texas? Read our newly published template, Day of Rest Policy (with Acknowledgment) (Retail Employees) (TX) . Read now » Related...
A Texas District Court recently issued an opinion, in Utah v. Walsh, favoring the U.S. Department of Labor (DOL) regarding the legitimacy of the DOL’s final regulations addressing “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.” The regulations came under scrutiny for how they assess fiduciary consideration of environmental, social, and corporate governance (ESG) factors in ERISA plan investing. On a summary judgment motion, the court recognized the complexity of the prior Trump-administration final regulations, noting that “in stakeholders' eyes, [prior regulations] created a ‘chilling effect’ on the appropriate integration of climate change and other ESG factors in investment decisions.” Referencing the Chevron Doctrine’s two-step approach in determining the legitimacy of agency regulations, the court concluded that the DOL regulations prevailed in meeting both step one and step two of a Chevron Doctrine analysis and were not “manifestly contrary to the statute.” The ruling gives ERISA plan fiduciaries room to consider ESG factors when selecting and monitoring investments on behalf of participants.
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