Two federal agencies today released regulatory agendas focused on amending labor and market policies.
The Department of Labor (DOL) first released its semiannual regulatory agenda with nearly 150 proposals on existing guidelines. According to the release, the proposals intend to “reduce unnecessary burdens on employers and employees,” and addresses issues with independent contractors, joint employers, and pharmacy benefit managers, along with other job cohorts.
The proposals include a guideline that would analyze fiduciary status when prioritizing environmental, social, and governance (ESG) factors in investment decisions, and another rule that would classify whether a worker is an employee or independent contractor for federal wage and hour requirements, which could extend to their applicability for workplace benefits.
Another proposal would establish market transparency in pricing and cost-sharing information.
“Eliminating red tape and crafting smart regulations that spur job creation will bring us even closer to reaching the Golden Age of the American Worker,” said U.S. Secretary of Labor Lori Chavez-DeRemer in a statement.
SEC releases regulatory agenda
At the same time, the Securities and Exchange Commission (SEC) issued its Spring 2025 Unified Agenda of Regulatory and Deregulatory Actions. SEC Chairman Paul Atkins says the agenda represents a “new day” for the federal agency, with a “renewed focus on supporting innovation, capital formation, market efficiency, and investor protection.”
Among these new focuses in the agenda are proposals clarifying the offering and selling of cryptocurrency assets. “A key priority of my Chairmanship is clear rules of the road for the issuance, custody, and trading of crypto assets while continuing to discourage bad actors from violating the law,” said Atkins in a statement.
The SEC has established a welcoming attitude towards digital assets since President Donald Trump took office. Atkins, who has ties with the cryptocurrency industry himself as CEO of Patomak Global Partners, has called for embracing cryptocurrencies and private market assets.
The push for private market exposure has extended to retirement plans in recent weeks, as Trump in August signed an executive order that would establish access to private equity in 401(k) plans.
While supporters say that access to private markets could improve retirement savings, opponents observe that its complexity, illiquidity, and risk may end up weakening portfolios.