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The 5th Circuit Court of Appeals’ bombshell ruling vacating the Labor Department’s fiduciary rule has left industry stakeholders, consumer advocates, legal experts, politicians — and likely regulators — scrambling to understand the immediate consequences for the investment marketplace.
The decision marks a sweeping victory for industry opponents of the rule, which was written under the Obama administration to address conflicts of interest on advice to retail investors in IRAs and other qualified retirement plans.
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Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
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