May 12, 2021

Fred Reish Explores Potential Regulatory Rollbacks as the DOL Awaits a Senate-Confirmed Assistant Secretary

In the article “Walsh Lonely at Top Without Deputies to Advance Labor Agenda,” Bloomberg Law turned to benefits and executive compensation partner Fred Reish for insight on potential regulatory rollbacks as a nomination for assistant secretary has yet to be announced.

The publication explained that six nominees are in varying stages of the confirmation process, and the White House has yet to announce a nomination for the seven other Department of Labor (DOL) positions that require Senate signoff. For example, decisions on whether to advance new regulations to replace rules affecting fiduciary guidance, sustainable investing and other policy areas will likely depend on a Senate-confirmed assistant secretary.

Reish said that while it’s “not unusual” for the Employee Benefits Security Administration (EBSA) to be without a confirmed head at this point, “it is more difficult to make major decisions without the assistant secretary.”

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