In a victory with broad implications for the financial services and health insurance industries – and ERISA cases in general – the U.S. Court of Appeals for the Seventh Circuit limited the reach of ERISA’s definition of "fiduciary" for entities that do not overtly assume fiduciary status. Specifically, the court affirmed the grant of summary judgment in favor of a 401(k) service provider, holding that it was not a fiduciary under ERISA with respect to its receipt of "revenue sharing" from mutual fund companies. Leimkuehler v. American United Life Insurance Co., No. 12-1081 (7th Cir. Apr. 16, 2013). The opinion provides helpful guidance on the scope of key terms in ERISA’s definition of fiduciary and rejects a novel theory of fiduciary liability that the Department of Labor had espoused in an amicus brief.