The fiduciary rule is not considered a "major" rule, meaning it has an economic impact of less than $100 million, according to Labor's regulatory agenda. (Photo: Shutterstock)
The Employee Benefits Security Administration set aggressive goals in its fall regulatory agenda, perhaps none as ambitious as advancing a new proposed fiduciary rule by the end of the 2019.
EBSA issued a notice for public rule making on The Fiduciary Rule and Prohibited Transaction Exemptions in its fall agenda, which was released in November.
According to a brief regulatory abstract, EBSA, the arm of the Labor Department that enforces the Employee Retirement Income Security Act, is "considering regulatory options" after the Obama-era fiduciary rule was vacated by the Fifth Circuit Court of Appeals in 2018.
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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.
