{"abstract":"The Department of Labor (Department) is amending the \"Investment Duties\" regulation to address the application of the prudence and exclusive purpose duties under the Employee Retirement Income Security Act of 1974 (ERISA) to the exercise of shareholder rights, including proxy voting, the use of written proxy voting policies and guidelines, and the selection and monitoring of proxy advisory firms. This document also removes Interpretive Bulletin 2016- 01 from the Code of Federal Regulations as it no longer represents the view of the Department regarding the proper interpretation of ERISA with respect to the exercise of shareholder rights by fiduciaries of ERISA-covered plans.","action":"Final rule.","agencies":[{"raw_name":"DEPARTMENT OF LABOR","name":"Labor Department","id":271,"url":"https://www.federalregister.gov/agencies/labor-department","json_url":"https://www.federalregister.gov/api/v1/agencies/271","parent_id":null,"slug":"labor-department"},{"raw_name":"Employee Benefits Security Administration","name":"Employee Benefits Security Administration","id":131,"url":"https://www.federalregister.gov/agencies/employee-benefits-security-administration","json_url":"https://www.federalregister.gov/api/v1/agencies/131","parent_id":271,"slug":"employee-benefits-security-administration"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2020/12/16/2020-27465.html","cfr_references":[{"chapter":null,"citation_url":null,"part":2509,"title":29},{"chapter":null,"citation_url":null,"part":2550,"title":29}],"citation":"85 FR 81658","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"Effective Date: The final rule is effective on January 15, 2021.","disposition_notes":null,"docket_ids":[],"dockets":[],"document_number":"2020-27465","effective_on":"2021-01-15","end_page":81695,"executive_order_notes":null,"executive_order_number":null,"explanation":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2020/12/16/2020-27465.xml","html_url":"https://www.federalregister.gov/documents/2020/12/16/2020-27465/fiduciary-duties-regarding-proxy-voting-and-shareholder-rights","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/2020-27465?publication_date=2020-12-16","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2020-12-16/2020-27465/mods.xml","not_received_for_publication":null,"page_length":38,"page_views":{"count":12593,"last_updated":"2026-04-05 06:15:03 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2020-12-16/pdf/2020-27465.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":"https://public-inspection.federalregister.gov/2020-27465.pdf?1608039919","publication_date":"2020-12-16","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2020/12/16/2020-27465.txt","regulation_id_number_info":{"1210-AB91":{"issue":"202010","html_url":"https://www.federalregister.gov/regulations/1210-AB91/fiduciary-duties-regarding-proxy-voting-and-shareholder-rights","title":"Fiduciary Duties Regarding Proxy Voting and Shareholder Rights","xml_url":"http://www.reginfo.gov/public/do/eAgendaViewRule?pubId=202010&RIN=1210-AB91&operation=OPERATION_EXPORT_XML","priority_category":"Other Significant"}},"regulation_id_numbers":["1210-AB91"],"regulations_dot_gov_info":{"supporting_documents":[],"regulatory_plan":{"html_url":"https://www.federalregister.gov/regulations/1210-AB91/fiduciary-duties-regarding-proxy-voting-and-shareholder-rights","title":"Fiduciary Duties Regarding Proxy Voting and Shareholder Rights"},"comments_count":0,"agency_id":"EBSA","comments_url":"https://www.regulations.gov/docketBrowser?rpp=50&so=DESC&sb=postedDate&po=0&dct=PS&D=EBSA-2020-0008","supporting_documents_count":0,"docket_id":"EBSA-2020-0008","document_id":"EBSA-2020-0008-0320","regulation_id_number":"1210-AB91","title":"Fiduciary Duties Regarding Proxy Voting and Shareholder Rights","checked_regulationsdotgov_at":"2020-12-18T04:30:09Z"},"regulations_dot_gov_url":null,"significant":true,"signing_date":null,"start_page":81658,"subtype":null,"title":"Fiduciary Duties Regarding Proxy Voting and Shareholder Rights","toc_doc":"Fiduciary Duties Regarding Proxy Voting and Shareholder Rights","toc_subject":null,"topics":["Employee benefit plans","Investments","Pensions","Reporting and recordkeeping requirements","Securities"],"type":"Rule","volume":85}