Crowdfunding Professional Association (CfPA)

WASHINGTON, D.C. – May 27, 2026

The Crowdfunding Professional Association (CfPA) announced that its public comment letter to the U.S. Department of Labor is now available on Regulations.gov, responding to the Department’s proposed rule, “Fiduciary Duties in Selecting Designated Investment Alternatives” (RIN 1210-AC38).

The proposed rule would clarify how ERISA’s duty of prudence applies when plan fiduciaries select designated investment alternatives for participant-directed retirement plans, including asset allocation funds that may include alternative assets.

CfPA commended the Department for advancing a process-based, asset-neutral framework that preserves fiduciary discretion while recognizing the evolving role of private-market investment opportunities. At the same time, CfPA urged the Department to make the proposed safe harbor more practical by adding objective criteria and documentation thresholds that fiduciaries can apply consistently.

“Expanding access to private markets shou...more