Opinion and Order in Chamber of Commerce v. Edward Hugler, Acting Secretary of Labor
Chief Judge Barbara M.G. Lynn of the U.S. District Court for the Northern District of Texas granted the DOL’s motion for summary judgment upholding the Fiduciary Rule. The court denied the DOL’s motion submitted on February 8, to stay the proceedings while it reviews the issues raised in the Presidential Memorandum of February 3 that could result in a delay of the applicability date of the rule or its revision or rescission.
It is expected that the DOL will continue to proceed with its reconsideration of the Fiduciary Rule called for by the recent Presidential Memorandum, regardless of the court’s decision in this case.