This month’s Compliance Corner entry will be my last article that discusses the DOL fiduciary rule (applause).
We’ve all seen or heard the stories over the past week that the 5th Circuit Court of Appeals finally issued a mandate that essentially killed the rule. The court had made the decision back in March to vacate the rule, but the issuance of the mandate was the last step that was needed to put that final nail in the coffin. All appeals have been exhausted and all last-ditch efforts to keep the rule alive have failed.
The rule is no more.
What does this mean now? What’s next? Do we just go back to the way things were and act like nothing happened? These are the types questions to really consider.