Groom principal David Kaleda joined The Securities Compliance Podcast for the episode “DOL Fiduciary Rule Update – Where Are We Now and Best Practices for Retirement Investors – Lessons From The Front Lines | Compliance In Context.” In the episode, Kaleda dove into the evolving landscape of the Department of Labor’s (“DOL”) fiduciary rule, examining ongoing litigation and potential impacts for retirement investors.
“So, at this point we’re still waiting to see how this will be resolved. There are really two tracks here. One is just this effective date stay, and…the next track is the merits of the case, whether the DOL even has the authority to do this in the first place. So, the DOL did file a notice of interlocutory appeal, which basically means they’re appealing the stay at this point, and, also, all the parties had been working on a decision on the underlying regulation and exemptions that’s being put on hold so that the DOL can at least consider what they’re going to appeal. At this point, they’ve just noticed the court that they could appeal. Whether they do or not, I guess, remains to be seen,” said Kaleda.
To listen to the episode, click here.