Regulators Struggle to Raise the Standard of Care for Financial Advice | Clifford Chance US LLP
On March 15, 2018, the U.S. Court of Appeals for the Fifth Circuit (“Fifth Circuit”) in a 2-1 decision vacated the Obama-era U.S. Department of Labor’s (“DOL”) Fiduciary Rule (“Fiduciary Rule”), which responded to a historical shift from traditional pension plans to individually managed accounts, such as individual retirement accounts (“IRAs”) and 401(k)s. The Fiduciary …
Continue reading “Regulators Struggle to Raise the Standard of Care for Financial Advice”