A Safe Harbor in Rough Waters: Department of Labor’s Proposed Regulation on Alternative Assets

On March 30, 2026, the U.S. Department of Labor (DOL) released a proposed regulation on fiduciary duties in selecting designated investment alternatives. The proposed regulation is in response to President Trump’s August 7, 2025, Executive Order 14330, titled “Democratizing Access to Alternative Assets for 401(k) Investors,” instructing the DOL to “clarify [its] position on alternative assets and the appropriate fiduciary process associated with offering asset allocation funds containing... By: Carlton Fields