The 5th Circuit Court of Appeals

StevenSteven Senior MemberPosts: 1,912 Senior Member

Vacated the DOL Fiduciary Rule last night. Just eviscerated it.

Comments

  • sherbsherb Senior Member Posts: 1,622 Senior Member

    The NYT calls the decision "strongly worded." Which for the staid paper of record is saying something.

    https://www.nytimes.com/2018/03/16/business/fiduciary-rule-retirement-planning.html

    Looks like DOL may ask for a rehearing en banc, because the ruling abrogates their rulemaking authority in the future.

  • StevenSteven Senior Member Posts: 1,912 Senior Member

    By my count, 15 Republican and 6 Democratic appointees on the 5th Circuit Court of Appeals. There was a reason the original suit was filed in Texas.

    DOL would probably be best served (if this is serious), going to the Supreme Court.

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