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DOL Revises ERISA Interpretive Statements on Shareholder Rights and Economically Targeted Investments (PDF)
Eversheds Sutherland, via Lexology [Guidance Overview] Oct. 20, 2008 3 pages. Excerpt: On October 17, 2008, the U.S. Department of Labor published in the Federal Register interpretive bulletins updating and modifying its prior bulletins on the exercise of shareholder rights, including proxy voting, and on economically targeted investments by ERISA-governed employee benefit plans. The new bulletins in part incorporate into these formal interpretive statements the positions taken by DOL in advisory opinions issued to the U.S. Chamber of Commerce in 2007 and 2008. The prior bulletins – Interpretive Bulletins 94-1 and 94-2 – are superseded, effective immediately. |
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