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Fifth Circuit Vacates DOL Fiduciary Rule
Proskauer's ERISA Practice Center 
Mar. 19, 2018
"Over the course of more than forty pages, the majority decision recounted the history of ERISA's definition of fiduciary and concluded that the Department's expansion of the definition reflected a policy decision that was beyond the Department's authority. In so holding, the Court explained that expansion of service providers' obligations under the law and individuals' ability to enforce the law in court requires an act of Congress rather than an unelected agency of the Executive branch." [Chamber of Commerce of the United States of America, et al. v. DOL, No. 17-10238 (5th Cir. Mar. 15, 2018)]
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