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DOL Conflict of Interest Rule Update

Since the DOL’s Conflict of Interest Rule was finalized in April, several challenges to the rule have emerged in the courts, with cases to be heard over the next few months. Most of the named plaintiffs are industry or trade associations, and the claims are generally that in issuing the regulation, the DOL has done the following:

At minimum, the litigation may buy time, perhaps until an Administration more sympathetic to the financial industry’s concerns comes to power.