Why New DOL Fiduciary Rule Is Not a ‘Rehash’ of 2016

January 17, 2024 by Melanie Waddell

As the architect of the Labor Department’s 2016 fiduciary rule, Phyllis Borzi is no stranger to controversy.

Borzi, the former head of Labor’s Employee Benefits Security Administration under President Barack Obama, faced a barrage of criticsm as she crafted the department’s 2016 rule, which was eventually struck down by the U.S. Court of Appeals for the 5th Circuit — a case that many independent legal experts, and Borzi, believe was wrongly decided.

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Originally Posted at Think Advisor on January 12, 2024 by Melanie Waddell.