On August 7, President Trump signed an Executive Order directing the DOL, the SEC, and Treasury (including the IRS) to review and revise guidance to facilitate the inclusion of alternative investments—such as private equity, cryptocurrency, and other non-traditional assets—in defined contribution retirement plans. The Executive Order follows action in May of this year by the DOL to rescind its 2022 guidance that discouraged fiduciaries from including cryptocurrency options in 401(k) retirement plans.

July was an exciting month for employer-sponsored health and welfare benefits. Many of the changes discussed provide plan sponsors with increased flexibility to optimize benefits.

With renewed enforcement of the Robinson-Patman Act against illegal price discrimination looming, direct-selling companies should reassess their pricing models. The FTC has made clear that tiered wholesale pricing, which gives higher-ranked distributors more favorable terms than their lower-ranked counterparts, can create significant legal risks under antitrust laws.