The DOL issued a "temporary enforcement policy" related to a recently proposed 60-day extension of the fiduciary rule applicability date.
U.S. District Court for the Northern District of Texas Dallas Division Chief Judge Barbara M.G. Lynn denied a motion for summary judgment by the Chamber of Commerce, et. al. to challenge and vacate the heightened fiduciary standards mandated by the DOL fiduciary rule.
Senator Elizabeth Warren (D-MA) urged Acting Labor Secretary Edward Hugler to allow the DOL's Fiduciary Rule to become effective as currently scheduled on April 10, 2017.
President Obama vetoed a Congressional resolution of disapproval to prevent the Department of Labor's implementation of the final rule relating to the "Definition of the Term 'Fiduciary'; Conflict of Interest Rule – Retirement Investment Advice."