Court ruling aside, for now DOL will rely on fiduciary rule to govern investment advice
May 8, 2018 by Mark Schoeff Jr.
Despite a court decision to vacate the Department of Labor’s fiduciary rule, the DOL said it will continue to rely on the regulation for now to govern advice in retirement accounts.
The 5th Circuit Court of Appeals was expected to issue a mandate on Monday that would put into effect its March 15 split decision striking down the regulation, which requires brokers to act in the best interests of their clients when giving retirement advice.
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Originally Posted at InvestmentNews on May 7, 2018 by Mark Schoeff Jr..
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