The DOL didn’t exercise the last legal recourse it had to defend the controversial rule, effectively ending the short life of the Obama-era regulation.
Both the DOL and the SEC turned a concept that is simple enough to be captured in a fortune cookie into an indecipherable instruction manual. It’s time to re-simplify what a fiduciary is.
For the second time, a three-judge panel ruled against the state attorneys general of New York, California and Oregon to intervene in the case against the DOL fiduciary rule.