(Washington)

Many feel that the current version of the DOL’s Fiduciary Rule might be in jeopardy if Biden wins the election. The thinking is that he would quickly undue the current proposed legislation and replace it with something similar to the Obama era Fiduciary Rule. However, that seems unlikely since many courts have now blocked that version of the rule, clearing saying it overstepped its bounds. That means that a return to the Obama era version is unlikely unless Democrats also win the House and Senate, in which case they could introduce new legislation.

FINSUM: Based on how the old version of the ruled fared in courts, we think it is highly unlikely it returns intact. That said, a much stronger version than the current proposal seems likely if Biden wins.