Compliance Stuff

On March 30, 2026, the U.S. Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) issued a notice of proposed rulemaking (NPRM) designed to reduce the regulatory risk if permitted investment options in 401(k) retirement plans include nontraditional investments such as private equity and cryptocurrency. 00:00 11:02 Quick Hits The DOL proposed a six-factor safe harbor to meet a fiduciary’s duty of prudence when selecting designated investment alternatives under participant-directed defined contribution plans. The proposed regulation does not apply to brokerage windows or self-directed brokerage accounts under defined contribution plans.  This proposal follows President Trump’s executive order aimed at increasing access to alternative assets and reversing earlier Biden-era guidance that discouraged such investments due to risk concerns.  By clarifying the fiduciary process affording discretion to plan fiduciaries to select investments, the DOL hopes the c...

On August 18, Governor Pritzker of Illinois  announced  he had signed two comprehensive pieces of consumer protection legislation: The  Digital Assets and Consumer Protection Act ,  which will regulate digital asset companies; and the  Digital Asset Kiosks Act ,  which will regulate cryptoasset kiosk operators. In the press release, Governor Pritzker stated the laws “create first-of-their-kind safeguards in the Midwest for cryptocurrency and other digital assets,” and noted that according to the FBI, Illinois consumers lost $272 million in fraud cases involving cryptocurrency in 2024. Digital Assets and Consumer Protection Act The Digital Assets and Consumer Protection Act establishes a framework to regulate digital assets in the state. The statute designates the Illinois Department of Financial and Professional Regulation (DFPR) as the primary regulator , granting it oversight authority of entities engaging in “digital asset business transactions,” which...