Rollovers, exemption 84-24 among areas targeted in new fiduciary rule
November 6, 2023 by John Hilton
The Department of Labor unveiled nearly 500 pages worth of new fiduciary rulemaking today and, at first glance, industry trade groups panned the effort.
As expected, the rulemaking effort will survive or die based on how closely regulators can hew to a 2018 decision by the Court of Appeals for the Fifth Circuit. In a 2-1 decision, the court tossed out the 2016 fiduciary rule put forth by the Obama administration.