The resignation of DOL Secretary Alexander Acosta on July 12 may impact the agency’s rewrite of its controversial fiduciary duty rule, as it’s unclear whether an Acting Secretary─not confirmed by the Senate, in other words─would be comfortable taking on such a notorious project.

According to the timeline that Secretary Acosta had announced prior to his resignation, the DOL was scheduled to release its fiduciary rule replacement in December.  He said, among other things, that the redraft would work in concert with the Securities and Exchange Commission’s (SEC) recently finalized Regulation Best Interest.

Further details regarding the potential impact of Secretary Acosta’s resignation can be found HERE.