The Fiduciary Rule promulgated by the Department of Labor (DOL) under the Obama administration has garnered a lot of attention since Trump took office and now may be on its way out. There have been a number of court challenges to the Rule and last week the Fifth Circuit dealt the rule a possibly fatal blow. As explained in a recent Cadwalader Cabinet article, in a split decision, the Court’s majority ruled in favor of the plaintiffs and found that the Fiduciary Rule is “unreasonable,” and that the DOL acted beyond its authority in promulgating the Fiduciary Rule.
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