Lathrop GPM Partner Allie Itami was recently quoted in a piece by Financial Advisor discussing the DOL’s new fiduciary rule, known as the “Retirement Security Rule.”
Will the DOL appeal a decision to vacate the rule?? It depends on who wins the White House Nov. 5, another contributor noted. “If Trump wins, I think it’s likely the DOL will drop its defense in court once he has appointed a new Labor Secretary, just as it did in 2016. If Harris wins, the DOL will keep fighting and appeal to the full Fifth Circuit and/or to the Supreme Court.”
Itami said she thinks it seems somewhat unlikely that the Supreme Court would take up a challenge citing the Administrative Procedure Act case so soon after its Loper-Bright decision, which expanded the judiciary’s power to review and reject how congressional statutes are amended and adopted by federal administrative agencies like the DOL.
Read more in the article here: Will The DOL Appeal Court Stay Of The Fiduciary Rule?