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CASE ENTRY

Chamber of Commerce of the United States of America v. Department of Labor

In 2016, the Department of Labor enacted the “Fiduciary Rule,” unsettling decades of practice by broadly reinterpreting the term “investment advice fiduciary” to subject hundreds of thousands of financial service providers in the market for ERISA plans and IRAs to stringent regulation. Fifth Circuit (over a dissent): Which they had no authority to do; the Fiduciary Rule is vacated.


Tags: 2018, Administrative Law, DOL, Fifth Circuit

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