In Fund Action, Investment Management Counsel Discusses State Appeals of DOL Rule Decision
California, New York and Oregon asked the Fifth Circuit Court of Appeals to reconsider a decision denying their motion to defend the Department of Labor’s fiduciary rule on May 16. A May 17 article in Fund Action titled “States make another plea for DOL rule” quotes investment management counsel David Tittsworth on the latest effort. The latest effort could prove a final chapter for the DOL’s fiduciary rule, Mr. Tittsworth explained. The judges are unlikely to come to a different conclusion since the states are armed with the same arguments the panel already found unconvincing, added Mr. Tittsworth.