Will the fiduciary rule give way to frivolous class-action claims brought under the Employee Retirement Income Security Act?
That question is at the forefront of the Labor Department's new analysis of the rule, ordered by President Trump.
The answer is in the eye of the beholder. Opponents of the rule have long argued it will be a boon for the plaintiffs' bar; proponents say the rule's clear guardrails will protect against frivolous claims, so long as firms comply with the new best-interest standard.
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