DOL Appeals Two Rulings Halting Fiduciary Rule

Said Campbell: "We'll know more after the 5^th Circuit dockets the case."

The bottom line: "Nothing has fundamentally changed in the near term — the rule remains on hold for the indefinite future," Campbell said.

"DOL has filed the necessary paperwork within the right amount of time to challenge the district courts' stays in the 5^th Circuit, but we don't yet know how long it will take for the 5^th Circuit to decide whether the stays are valid, and they remain in place unless and until the 5^th Circuit rules otherwise," Campbell said.

"Filing the appeal of the stay order does not automatically stop the district courts from proceeding on the merits of the case while the stay appeal is pending, but it is likely that the parties will be discussing next steps, which could include slowing down the schedule for the district court cases," Campbell relayed. "We will likely learn more by the end of the week or early next week."