A long-awaited rule that would clear the way for more alternative investments like cryptocurrency and private equity in 401(k)s is now at the White House’s regulatory review office.
The Office of Information and Regulatory Affairs received the proposal on Tuesday. The review comes as the deadline approaches for the Department of Labor to publish a rule that, if finalized, would bring major changes to the legal landscape for the roughly $12 trillion 401(k) market.
President Donald Trump signed an executive order in August that gave the DOL’s Employee Benefits Security Administration 180 days to reevaluate guidance around alternative asset investments …