Much has been written about the U.S. Department of Labor’s conflict-of-interest rule and it has been the subject of intense debate. In a feature published by Law360’s expert analysis column, investment management counsel David Tittsworth (Washington, D.C.) provides a Q&A primer about whether and how the Department of Labor’s fiduciary rule could be altered. “There are three different avenues that could result in changes to the DOL rule: judicial, legislative or executive/administrative … With the DOL rule, all three are actively in play,” Mr. Tittsworth outlines in the piece.
Included in the article are the status of the lawsuits challenging the DOL rule, the legislative options Congress has to change the final rule, an overview of the Congressional Review Act and it’s applicability to the rule, and the various executive/administrative activities currently in play, which will likely result in significant changes to the DOL rule.
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