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Judge to rule on lawsuit against DOL fiduciary rule next week

The U.S. District Court for the Northern District of Texas is expected to issue a ruling "no later than Feb. 10" on a lawsuit that is seeking to block the implementation of the Department of Labor's Conflict of Interest Final Rule, commonly known as the fiduciary rule.

Barbara Lynn, the presiding judge, said in a Feb. 2 notice to the parties that she will reach a decision on the case by next week.

The lawsuit was filed in June 2016 by the U.S. Chamber of Commerce, Securities Industry and Financial Markets Association, the Financial Services Institute and other local chambers of commerce and financial services organizations.

President Donald Trump is said to be planning executive actions to revise or rescind the fiduciary rule.