REGULATORY RUNDOWN | Aug. 04-18

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The Regulatory Rundown: August 4-18

Trump signs EO allowing 401(k) investors to access alternative assets. On August 7, President Trump signed an executive order (EO) to allow 401(k) investors to access alternative assets, directing the Secretary of Labor to reexamine the Department of Labor’s (DOL) guidance on a fiduciary’s duties regarding alternative asset investments in ERISA-governed 401(k) and other defined-contribution plans.

Under the EO, the Secretary of Labor was also instructed to clarify DOL’s position on alternative assets and the appropriate fiduciary process associated with offering asset allocation funds containing investments in alternative assets.

Following the issuance of the EO, DOL’s Employee Benefits Security Administration rescinded a 2021 supplemental statement discouraging fiduciaries from considering alternative assets in 401(k) retirement plan investment menus.

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DOL announces up to $30M for Industry-Driven Skills Training Fund grant program. On August 11, DOL announced that $30 million in funding will be made available in the Industry-Driven Skills Training Fund grant program for purposes of accelerating workforce innovation and addressing critical workforce needs.

The program will provide grants of up to $8 million for State Workforce Agencies to establish and administer training funds that encourage businesses to create and expand innovative training programs.

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SBA opens noms for 2026 Nat’l Small Business Week Awards. On August 15, the Small Business Administration (SBA) opened nominations for the 2026 National Small Business Week Awards, previewing that the 2026 National Small Business Week will take place May 3-9.

To nominate a small business, due Dec. 8, 2025 at 7 a.m., read more here.

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Mulligan confirmed to serve as Advocacy Chief Counsel. On August 5, the SBA Office of Advocacy announced the confirmation of Casey Mulligan to serve as the office’s Chief Counsel. On his first day, Mulligan “found the Biden Administration trivialized regulatory burdens on small businesses,” releasing a comprehensive report to the President and Congress that analyzed over 12,000 rules.

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EPA relaunches guidance portal. On August 13, the Environmental Protection Agency (EPA) announced the reopening of its online portal for agency guidance documents, which contains guidance from all EPA offices covering air quality, water protection, hazardous waste management, among others.

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