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Federal appeals court overturns Department of Labor fiduciary rule

April 3, 2018

Via: Jurist

The US Court of Appeals for the Fifth Circuit on Thursday vacated the Department of Labor Fiduciary Rule by a vote of 2-1.

The Fiduciary Rule reinterprets the term “investment advice fiduciary” and redefines exemptions to provisions concerning fiduciaries that appear in the Employee Retirement Income Security Act of 1974 (ERISA).

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