Newsflash: ERISA's Amended Fiduciary Rule - Done, Done, on to the Next One

June 14, 2018

The U.S. Department of Labor’s amended “investment advice” fiduciary rule need no longer ask for whom the bell tolls. It tolls for thee. So - ding dong, the rule is dead.

We have previously discussed in our May 2018 NewsFlash, Ding Dong - The Amended Fiduciary Rule Is (Almost) Dead, the impending demise of the rule. Our OnPoints on the rule, its path to applicability, and the twists and turns that got us to this point are collected on our Fiduciary Rule Resource Page

Now, the amended rule is, finally, a once and former rule. The Fifth Circuit, in the case of Chamber of Commerce v. U.S. Department of Laborvacated the amended rule (including the related new and amended exemptions). The deadline for the filing of an appeal by the United States with the Supreme Court has now come and gone. With respect to this regulatory initiative: game over; done; finis. (We note, however, that the procedural step of the issuance of a mandate by the clerk effectuating the vacatur has not (to our knowledge) yet issued, and so this chapter of the story is not yet truly technically over.)

Read "ERISA's Amended Fiduciary Rule - Done, Done, on to the Next One."