It’s official: DOL fiduciary rule is dead

June 25, 2018 by Mark Schoeff Jr.

After a long delay, the U.S. Fifth Circuit Court of Appeals confirmed Thursday a March decision to strike down the Labor Department’s fiduciary rule.

The court issued a mandate making effective the March 15 split decision that vacated the DOL regulation. The court majority held that the agency exceeded its authority in promulgating the rule, which would have required brokers to act in the best interests of their clients in retirement accounts.

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Originally Posted at InvestmentNews on June 21 ,2018 by Mark Schoeff Jr..