The words fiduciary duty Whatever the legal fate of Labor’s fiduciary rule may be, or the complexities before the SEC that could potentially delay its rulemaking, DALBAR’s Louis Harvey says that market forces will ultimately outweigh what courts and regulators do. (Photo: Shutterstock)

As industry waits for the Labor Department to determine if it will continue defending its fiduciary rule in the 5th Circuit Court of Appeals or before the Supreme Court, all eyes are on the Securities and Exchange Commission.

Days after the 5th Circuit issued a ruling vacating the fiduciary rule, SEC chairman Jay Clayton said the decision will have no effect on that agency’s intention to create a uniform fiduciary standard for all investment accounts.

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Nick Thornton

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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