New DOL Proposal Spurs Supplemental Briefing In ERISA Fiduciary Test Row

Mealey's (November 3, 2023, 9:59 AM EDT) -- DALLAS — Under a Nov. 2 order, supplemental briefing in Texas federal court will address a newly proposed rule and amendments from the U.S. Department of Labor (DOL) in an existing suit over what had been called 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....