5th circuit courthouse Ultimately, it was the 3-judge appellate panel in the 5th Circuit that sealed the rule’s fate. It vacated the rule, finding regulators were “arbitrary, capricious, and not in accordance with the law,” in crafting the rule. (Photo of John Minor Wisdom courthouse: Tim Roller, National Law Journal/ALM)

The U.S. Court of Appeals for the Fifth Circuit has formally put an end to the fiduciary rule.

The court issued a mandate on June 21 that certifies its decision to vacate the Labor Department’s fiduciary rule. The mandate had been expected on May 7.

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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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