"[EBSA] today removed from the Code of Federal Regulations the Biden-era 2024 final rule, 'Retirement Security Rule: Definition of an Investment Advice Fiduciary,' responding to final judgments entered in the Northern and Eastern Districts of Texas vacating the rule. The vacatur notice in the Federal Register reflects the judicial resolution of legal challenges to the 2024 final rule and to amendments of associated prohibited transaction exemptions and restores [ERISA's] five-part test for determining whether a person is an investment advice fiduciary.... The department has no current plans to engage in notice and comment rulemaking in this regard ... The department will consider whether any additional guidance, including transitional or non-enforcement relief, is appropriate."  MORE >>