New Rulemaking

Trump Administration Will Engage in New Rulemaking Concerning the Department of Labor Rule Permitting ESG Investing

On May 28, 2025, Government lawyers filed a status report telling the US Court of Appeals for the Fifth Circuit that the Department of Labor (DOL) will engage in a new rulemaking on the subject of the Biden Administration DOL rule permitting companies that sponsor workplace 401(k)s to consider environmental, social, and governance (ESG) factors when picking and choosing investments on behalf of workers and retirees.

The new rulemaking is expected to appear on the DOL's spring regulatory agenda. A notice-and-comment rulemaking process would be required to rescind the rule altogether.