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Will Fiduciary Rule Survive Rising Tide of Lawsuits?
Todd Berghuis for Ascensus
[Opinion] June 24, 2016
"The plaintiffs' arguments for an injunction [include] ... DOL infringing on the authority of other federal and state agencies, doing financial harm to investors, ... exposing financial advisors and their employers to litigation risk, and issuing a final rule with new conditions that allowed no opportunity for public review and comment. This last ... is thought to have a greater chance of swaying a court in favor of the plaintiffs.... Another charge that might have some possibility of 'sticking' is that DOL, despite their claims to the contrary, does not appear to have coordinated in a serious way with the [SEC]."
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