(New York)

Nobody in the industry wants to hear it, but that doesn’t mean it isn’t true. Think Advisor has just published an article arguing that the DOL rule may still pose a comeback and that RIAs need to keep the DOL-guided compliance procedures they developed in place. The argument is that though the DOL let the May 1st appeal deadline to its Fifth Circuit Court loss pass, it still has until June 13th to escalate the case to the US Supreme Court. If it does so, a stay in the Fifth Circuit Court’s ruling is likely, meaning the rule would technically still be in place until the Supreme Court delivers its verdict.

FINSUM: Obviously no one knows what the DOL will do, especially because the motivation to escalate this seems to be lacking. That said, it still has the choice and so advisors must keep their compliance policies in place.