President Biden issued his first veto today. Biden’s veto returns to Congress a joint resolution that attempts to nullify a recent rule from the Department of Labor regarding consideration of Environmental, Social, and Governance (ESG) factors when investing in retirement accounts. This rule went into effect on January 30, 2023, and allows for retirement plan fiduciaries to consider ESG factors when selecting investments and exercising shareholder rights. Some have said ESG investing is controversial because it allows for retirement plan fiduciaries to consider factors such as climate change and equity instead of focusing solely on maximizing financial returns; while others have argued that past measures prohibiting the consideration of ESG factors are equally problematic.
Regulatory staff continue to advance the Administration’s regulatory agenda, including issuing proposed and final rules. This blog post highlights the status of key natural resource regulatory actions. …
Continue Reading COVID-19 and the CRA Deadline: Status of the Natural Resources Regulatory Agenda
Rolling back environmental regulations is a priority of the Trump administration, but revising or withdrawing guidance may be a faster and more effective means to achieve near-term change, Andrew J. Turner and Alexandra Hamilton of Hunton & Williams say in this analysis article.
Continue Reading Practitioner Insights: Is Agency Guidance the Low-Hanging Fruit for Regulatory Reform?
The effects of the regulatory reform initiatives of the Trump Administration are beginning to be felt at the Occupational Safety and Health Administration (OSHA) with the formal action by OSHA to finalize withdrawal of the “Volks Rule” regulation. On May 3, 2017, in response to a CRA resolution of disapproval, OSHA published a final rule removing amendments to OSHA’s recordkeeping regulations from the Code of Federal Regulations. …
Continue Reading I’ve Been CRA’d! What Happens Now? OSHA Formally Repeals Volks Rule