In this article, Tess Gee and Nicholas Wamsley* summarize recent developments for the Department of Labor's (DOL's) final conflict of interest regulation and related exemptions (Fiduciary Rule) and provide an outlook on the rule's current status and where it might be headed. The Fiduciary Rule has faced challenges in three district courts, delays, and President Trump's request that DOL conduct a second review of the Fiduciary Rule and its impact. "Even if the Fiduciary Rule's success in court carries over to the barriers raised by the Executive Branch, it will have to withstand challenges from Congress that are currently waiting in the wings," Gee and Wamsley wrote. "For now, though, DOL faces a decision—whether to continue to delay the Fiduciary Rule's effective date, modify its substance, do neither, or do both. Regardless of its decision, much is still yet to come." 

*Former Miller & Chevalier attorney