Monday, 15 May 2017 00:00

The Fate of the Fiduciary Rule Comes Down to This

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The fight over the implementation of the fiduciary rule has been one for the ages. The rule itself is ideologically polemical, and the resultant fight has been just as divisive. And for all the recent efforts to overturn the rule, including an executive order and a forthcoming vote on the CHOICE Act, the fate of the rule is likely to come down to one thing—how well new DOL chief Acosta is able to execute his plans to terminate the rule. Acosta has not yet spoken publicly about the fiduciary rule, but a senator has confirmed his top priority is permanently getting rid of it. Acosta is an experienced legal mind, and once he has his team in place, he will need to find a way to quash the rule.

FINSUM: The CHOICE Act, seems like it has little chance surviving in the Senate, and the courtroom battles are probably a long shot. Therefore the best chance for termination of the rule is from internal moves within the DOL.

Source: FINSUM

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