Circuit Courts Split on Validity of DOL Fiduciary Rule

The Obama-era Fiduciary Rule, requiring retirement investment advisers to place their clients’ interests first, underwent a mixed week of results in U.S. circuit courts of appeals. A few days ago, the 10th Circuit Court affirmed the rule, and yesterday the 5th Circuit deemed it “arbitrary and capricious” and vacated the rule in toto. The 5th […]

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DOL Seeks 18-Month Extension of Fiduciary Rule

Enforcement of its Conflict of Interest Fiduciary Rule was set to begin on Jan. 1, 2018, but the Department of Labor (DOL) yesterday submitted a proposal to the Office of Management and Budget (OMB) seeking amendments to three of the rule’s exemptions that would push back enforcement by 18 months to July 1, 2019. After […]

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