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Industry advised to continue to comply with fiduciary rule amid uncertainty after 5th Circuit ruling

While the Trump administration might drop its defense of the fiduciary rule, most experts predict an appeal.

An appeal could go to the Supreme Court Most experts are predicting the 5th Circuit’s decision will be appealed, either an en banc review at the appellate level, or to the Supreme Court. (Photo: AP)

The 5th Circuit Court of Appeals decision vacating the Labor Department’s fiduciary rule has spawned competing views among legal experts over whether the regulation is still in effect in some areas of the country.

Attorneys for Gibson Dunn, the law firm that argued before the 5th Circuit on behalf of the U.S. Chamber of Commerce and industry trade groups, have said that the ruling categorically removes the rule throughout the country.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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