10.19.18
DOL Likely to Address Fiduciary Rule Again Next Year
by: Mark Jr. Schoeff
The Department of Labor (DOL) has released a regulatory agenda that indicates by next fall it will consider "regulatory options" to respond to the U.S. Fifth Circuit Court of Appeals decision to vacate its fiduciary rule. In May, the DOL released guidance saying that financial professionals could still rely on the rule to provide advice and would not enforce violations of the rule. But the agency has not issued any further statements. Meanwhile, the SEC proposed its own advice reform package in April. There is speculation that the two agencies will produce complementary measures.
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