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Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
Several implications of the Opinion are particularly significant for the financial services industry, especially as financial services firms await further clarity from regulators on fiduciary (including “best interest”) standards. The next steps for financial services firms in the market will likely depend on procedural developments over the coming months. The DOL and Department of Justice (DOJ) have until April 30 to seek a rehearing at the Fifth Circuit level.
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