Global Networks:

The Harmonie Group
The Harmonie Group

The Harmonie Group is an international network of defense firms with contacts throughout North America and Europe. For more info visit The Harmonie Group, or contact SCM Attorney Andrew M. Morse

Law Firm Alliance
Law Firm Alliance

Law Firm Alliance provides access to over 3,000 member firm lawyers' worldwide. For more info visit Law Firm Alliance, or contact SCM Attorney Camille N. Johnson


Snow Trial Services

Providing mock trials, juror focus groups, trial case evaluations and other trial consultation services.

DOL Fiduciary Rule Update

This past week, the House Financial Services Committee voted (34-26) to approve the Financial CHOICE Act.  The Act, if approved by the whole House and the Senate, will – among other things (like replacing the Dodd-Frank Act) - prevent the DOL from taking action on its fiduciary rule until after the SEC has done so.  Those in favor of this action argue that the SEC should take the lead in establishing rules and regulations applicable to RIAs, BDs and the like. 

Currently, the SEC has not disclosed its intent to enact any fiduciary rule.  If the CHOICE act passes then, it is unlikely that any fiduciary rule will be in place anytime soon.  And with the CHOICE act working its way through Congress the chances of the DOL rule going into effect are even slimmer now.

In a final note, it may be interesting to some that the DOL’s rule is being legally challenged now as a violation of the right to free speech and the First Amendment to the US Constitution. 

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