Category Archives: BICE
Fifth Circuit Strikes Down Entire DOL Fiduciary Duty Rule, Two Days After Tenth Circuit Upholds PTE 84-24: Supreme Court Up Next?
On Thursday, March 15, 2018, the Fifth Circuit vacated the DOL Fiduciary Duty Rule in its entirety, including the Best Interest Contract Exemption (BICE) and the amendments to Prohibited Transaction Exemption (PTE) 84-24, in Chamber of Commerce et al. v. … Continue reading
Federal District Court Enjoins DOL From Implementing or Enforcing BICE’s Prohibition on Class Action Waivers Against Thrivent
On November 3, 2017, the United States District Court, District of Minnesota issued a preliminary injunction against the DOL, enjoining the DOL from implementing or enforcing the BICE’s class action waiver prohibition against Thrivent Financial for Lutherans. The Court’s Order … Continue reading
It is Increasingly Unlikely We Will Ever See Full Implementation of the DOL Fiduciary Duty Rule or the BICE
The DOL Rule’s application of a fiduciary standard to persons who make recommendations to retirement investors has been in effect since June 9, 2017. Since that time, it has become increasingly unlikely that full implementation of the Rule or the … Continue reading