DOL shifting from minor ‘foot faults’ to major violations in new enforcement approach

Mayer Brown partners Erin Cho and Rick Nowak are quoted in this article discussing the Department of Labor's Employee Benefits Security Administration's shift away from lengthy enforcement investigations (including the removal of ESOPs from its national enforcement project list and reduced focus on missing participants) and its renewed emphasis on issuing guidance through advisory opinions and amicus briefs aimed at providing clearer compliance guidelines for plan sponsors and fiduciaries.