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DOL Direction Sought After Fiduciary Rule Nixed By 5th Circ.

Law360 (March 16, 2018, 6:54 PM EDT) -- A Fifth Circuit ruling vacating the U.S. Department of Labor’s fiduciary rule for retirement account advisers has created confusion across a broad swath of the U.S. investment landscape that will only be resolved once the DOL decides whether to drop the case or pursue it on appeal, legal experts said Friday.

A split Fifth Circuit panel on Thursday jettisoned the Obama-era rule in its entirety, with the majority finding in favor of the U.S. Chamber of Commerce and other business groups that the agency overstepped its...
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