Friday, August 15, 2025
FEDERAL GOVERNMENT RELATIONS
Labor Department rescinds guidance on alternative assets in 401(k) plans
The Labor Department rescinded a 2021 supplemental statement that discouraged fiduciaries from considering alternative assets in 401(k) retirement plan investment menus.
National trade associations: Close payment of interest loophole for stablecoins
Five national financial services associations are urging lawmakers to close a legal loophole that may allow for the payment of interest and yield on stablecoins despite a recent prohibition against the practice.
Trump to nominate Miran for Fed board seat
President Trump announced that he will nominate economist Stephen Miran to the Federal Reserve Board seat most recently held by former Governor Adriana Kugler.