DOL Court Appeal Ruling Might Take Time: Analyst
January 23, 2018 by John Hilton
The financial services industry has waited months for a ruling on a promising appeal of the Department of Labor fiduciary rule.
They might be waiting for a lot longer, said one legal expert. The Fifth Circuit Court of Appeals in New Orleans might have shelved its appeal decision while the DOL completes a review of the controversial fiduciary rule, said Bruce L. Ashton, lawyer with Drinker, Biddle & Reath in Los Angeles.
The final implementation of the DOL rule was delayed from Jan. 1, 2018, to July 2019. In the interim, the Trump labor department is expected to weaken the more onerous parts of the rule. That work has just begun.
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