Groom principal and co-chair of the firm’s Plan Sponsor Practice David Levine was quoted in the Bloomberg Law article, “New Crypto Guidance Rewrites Rules on 401(k) Brokerage Windows,” where he discussed the implications of mixed rulings in matters of 401(k) brokerage windows and how the U.S. Department of Labor’s new cryptocurrency guidance may come into play.

Regarding the applicability of fiduciary responsibility to plan participants in the context of limiting or designating investment options within brokerage windows, Levine said, “Brokerage windows have simply not been about the underlying investments. That seems to be where plan sponsors are at and where the Department of Labor now disagrees with them.”

To read the article, click here.