DOL to appeal court stays on fiduciary rule for retirement advice

September 24, 2024 by Dan Shaw

The Department of Labor is appealing two stays placed by Texas courts on its new fiduciary rule for retirement-related advice.

The rule, released in April, was scheduled to take effect on Monday but was instead postponed by preliminary injunctions handed down in late July by a pair of federal district courts in Texas. 

The Biden Administration’s Retirement Security Rule, as it’s officially called, would bring financial professionals under the fiduciary duty to always put their clients’ interests first when they do things l

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Originally Posted at Financial Planning on September 23, 2024 by Dan Shaw.