5th Circ. Won't Rethink Invalidation Of DOL Fiduciary Rule

Law360 (May 2, 2018, 9:46 PM EDT) -- The Fifth Circuit shot down attempts by AARP and the attorneys general from California, New York and Oregon to revive the U.S. Department of Labor's 2016 fiduciary rule on Wednesday in a move that attorneys think could be the final nail in the coffin for the Obama-era regulation.

Wednesday's order denying the motions of AARP and the attorneys general to intervene in U.S. Chamber of Commerce v. DOL derailed hopes that the full Fifth Circuit would review its March panel decision striking down the fiduciary rule, which required retirement advisers to prioritize clients' financial interests.

Unless the DOL petitions the U.S....

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