09.23.24

DOL Appeals 2 Rulings Halting Fiduciary Rule

by: Melanie Waddell

The Labor Department has filed to the Fifth Circuit Court of Appeals to reverse two rulings from federal courts in Texas that temporarily stopped Labor’s new fiduciary rule from taking effect. Before the stays were granted, the rule was set to take effect Monday. Brad Campbell, partner at Faegre Drinker, said “The facts on the ground are still pretty thin beyond the fact that DOL is appealing the stay orders. We’ll know more after the 5th Circuit dockets the case. Nothing has fundamentally changed in the near term — the rule remains on hold for the indefinite future."

Read the full article on Think Advisor