Alerts

Department of Labor Reporting Requirement Extends to Taft-Hartley Fund Vendors and Service Providers

July 5, 2005

Federal law requires "employers" (i.e., any business engaged in an industry affecting commerce that employs any employees) that engage in certain financial transactions or arrangements with a union, union representative, or labor relations consultant to file a Form LM-10/Employer Report with the United States Department of Labor ("DOL") to disclose specific transactions or arrangements.  Pursuant to recent DOL guidance, vendors and service providers—such as investment managers, attorneys, and accountants—that do business with Taft-Hartley funds, may have Form LM-10 reporting obligations.