DOL

Scalia nomination update

Senator Lamar Alexander (R – TN), chair of the Health, Education, Labor and Pensions Committee, announced that there will be a final panel vote on September 24 re. Eugene Scalia’s nomination to be the next DOL Secretary.

Next steps for fiduciary rule as POTUS taps Scalia

Trump officially nominates Scalia as next DOL Secretary

Per the White House:

Today, President Donald J. Trump announced his intent to nominate the following individual to a key position in his Administration:

Eugene Scalia of Virginia, to be Secretary of Labor.

Mr. Scalia, a partner at Gibson, Dunn & Crutcher LLP, is a renowned labor, employment, and regulatory lawyer. He has previously held several positions in the Federal Government. In the mid-to-late 1980s, he was a speechwriter to Secretary of Education William J. Bennett. From 1992 to 1993, Mr. Scalia served as a Special Assistant to Attorney General William P. Barr. In 2001, Mr. Scalia joined the Department of Labor as Solicitor of Labor, the Department’s principal legal officer with responsibility of a broad range of regulatory and enforcement matters. Mr. Scalia is a senior fellow of the Administrative Conference of the United States, a Federal agency that makes recommendations to Congress and the Executive branch on ways to improve agency procedures. He has served as a lecturer in labor and employment law at the University of Chicago Law School and as an adjunct professor at the University of the District of Columbia David A. Clarke School of Law. Mr. Scalia received his undergraduate degree, with distinction, from the University of Virginia and his law degree from the University of Chicago Law School, graduating cum laude and serving as editor-in-chief of the University of Chicago Law Review.

WSJ reports that Scalia would recuse himself from fiduciary advice rulemaking should he be confirmed as Secretary of Labor

Trump suggests Scalia has strong support re. nomination as DOL Secretary

More analysis on predictions on the effect of Eugene Scalia as DOL Secretary on fiduciary rulemaking

What would a Secretary Scalia mean for fiduciary rulemaking?

Earlier today, I spoke with Fund Intelligence regarding the President’s initial decision to nominate Eugene Scalia as the next Secretary of Labor. His background suggests “an even more deliberative approach” to fiduciary rulemaking, namely, the promulgation of guidance and rules that will safely survive a court challenge. The most likely approach of a DOL under Scalia is the proposal of exemptive relief and other rules that lower compliance costs, meaning that it is unlikely that the DOL would expand the ways in which one becomes an investment advice fiduciary under ERISA.

Trump tweets his intention to nominate Gene Scalia as next Secretary of Labor

“I am pleased to announce that it is my intention to nominate Gene Scalia as the new Secretary of Labor. Gene has led a life of great success in the legal and labor field and is highly respected not only as a lawyer, but as a lawyer with great experience working with labor and everyone else. He will be a great member of an Administration that has done more in the first 2 1/2 years than perhaps any Administration in history!”

@realDonaldTrump, 7/18/19 8:22 pm