InvestmentNews: 5th Circuit denies states’ second attempt to defend DOL fiduciary rule

The 5th Circuit again denied efforts by California, New York and Oregon to defend the DOL Fiduciary Rule. The Administration has a few more weeks to decide whether to appeal to the Supreme Court.

George Michael Gerstein advises financial institutions on the fiduciary and prohibited transaction provisions of ERISA. As co-chair of the fiduciary governance group, he assists clients with tracking, and understanding, the numerous fiduciary developments at the federal and state levels, including the rules and regulations of governmental plans. He also advises clients with respect to the fiduciary duty implications of ESG investing.