(Washington)

The back and forth over the fiduciary rule has been long, expensive, confusing, and bureaucratic. However, those opposed to the implementation of the rule should rejoice, as it appears it will die on April 30th. Legally, the DOL has until April 30th to seek a review of the Fifth Circuit Court’s vacating of the rule. If it does not do so by then the court’s ruling will go into effect on May 7th and the rule would dissolve. The DOL also has until June 13th to ask the Supreme Court to hear the case.

FINSUM: The DOL has already dropped a case in Washington D.C. because it was concerned the court there would uphold the rule. There seems to be a very low likelihood that they are going to challenge the Fifth Circuit Court’s ruling. The rule may very well dissolve on May 7th, but expect some drama before then as advocates make a final push.