Brad Campbell Comments on DOL Appeal of Fiduciary Rule Stay for ThinkAdvisor and Financial Planning

Benefits and executive compensation partner Brad Campbell provided insight on the appeals of two court-ordered stay of the Department of Labor’s (DOL) fiduciary rule in Financial Planning and ThinkAdvisor.

The publications noted that the DOL filed to reverse the two rulings that temporarily stopped their new fiduciary rule, which was set to take effect this month. Campbell noted that it is difficult to glean the exact arguments the DOL will make from their appeals. 

“Filing the appeal of the stay order does not automatically stop the district courts from proceeding on the merits of the case while the stay appeal is pending, but it is likely that the parties will be discussing next steps, which could include slowing down the schedule for the district court cases,” Campbell said. “We will likely learn more by the end of the week or early next week.”