DOL, Plaintiffs Wrangle Over Recommendation In Fiduciary Status Test Row

Mealey's (October 5, 2023, 3:32 PM EDT) -- DALLAS — After the U.S. Department of Labor (DOL) responded to their objections, plaintiffs who sued over the DOL’s “new interpretation” of a test for whether financial professionals are acting as investment advice fiduciaries under the Employee Retirement Income Security Act on Oct. 4 continued to urge a Texas federal court to vacate that interpretation in its entirety....