Yesterday, March 15, 2018, the U.S. Court of Appeals for the 5th Circuit voted 2-1 to vacate the DOL Fiduciary Rule. HOWEVER, the effect of the decision only applies to the following three states within the 5th Circuit’s jurisdiction – Louisiana, Mississippi, and Texas.
The next question is whether any party will appeal this decision to the U.S. Supreme Court.
So don’t rush to stop your compliance with the Impartial Conduct Standards that have been in effect since June 9, 2017.
Hill Compliance Advisors' Blog 