DOL’s Fiduciary Rule vacated

Published: 25 June 2018

On 21 June 2018, the Court of Appeals for the Fifth Circuit issued a mandate vacating the DOL’s conflict of interest rule and related exemptions (the ‘fiduciary rule’). As a result, the Fifth Circuit’s decision from 15 March 2018 is now effective, and the fiduciary rule no longer applies nationwide.  Members who changed their policies and procedures to comply with the fiduciary rule may wish to reevaluate them in light of this decision in consultation with their legal counsel.