US Labor Dept 401(k) Alternative Asset Rule Sent to White House Review

Cointime update: The US Department of Labor submitted its final rule easing restrictions on private equity, real estate and cryptocurrency in 401(k) retirement plans to the White House Office of Information and Regulatory Affairs on Nov. 5 for review. The draft, proposed March 30, would give fiduciaries a legal safe harbor for adding alternative assets if six criteria are met: performance, fees, liquidity, valuation, benchmarks and complexity. The rule is not yet in effect.