Expert Q&A on the Demise of the DOL’s Fiduciary Rule | Practical Law

Expert Q&A on the Demise of the DOL’s Fiduciary Rule | Practical Law

A recent, much-anticipated decision by the US Court of Appeals for the Fifth Circuit vacated the amended fiduciary rule that had been issued by the US Department of Labor (DOL) under the Employee Retirement Income Security Act of 1974 (ERISA). The rule would have subjected more advisers and other providers to ERISA’s fiduciary requirements, potentially holding them to a fiduciary standard when providing services to retirement accounts. Practical Law asked Eugene Scalia of Gibson, Dunn & Crutcher LLP, counsel for a number of trade groups that challenged the fiduciary rule, and Andrew L. Oringer of Dechert LLP, who is a Practical Law Employee Benefits & Executive Compensation Advisory Board member and who has written and spoken extensively on the saga of the fiduciary rule, to share their insights on the case and its ramifications.

Expert Q&A on the Demise of the DOL’s Fiduciary Rule

Practical Law Article w-017-4139 (Approx. 8 pages)

Expert Q&A on the Demise of the DOL’s Fiduciary Rule

by Eugene Scalia, Gibson, Dunn & Crutcher LLP, Andrew L. Oringer, Dechert LLP, with Practical Law Employee Benefits & Executive Compensation
Law stated as of 06 Nov 2018 • USA (National/Federal)
A recent, much-anticipated decision by the US Court of Appeals for the Fifth Circuit vacated the amended fiduciary rule that had been issued by the US Department of Labor (DOL) under the Employee Retirement Income Security Act of 1974 (ERISA). The rule would have subjected more advisers and other providers to ERISA’s fiduciary requirements, potentially holding them to a fiduciary standard when providing services to retirement accounts. Practical Law asked Eugene Scalia of Gibson, Dunn & Crutcher LLP, counsel for a number of trade groups that challenged the fiduciary rule, and Andrew L. Oringer of Dechert LLP, who is a Practical Law Employee Benefits & Executive Compensation Advisory Board member and who has written and spoken extensively on the saga of the fiduciary rule, to share their insights on the case and its ramifications.