Judge OKs Partly Vacating ‘New Interpretation’ Of ERISA Fiduciary Test

Mealey's ( July 10, 2025, 1:10 PM EDT) -- DALLAS — Without substantive explanation, a Texas federal judge on July 9 overruled objections to a June 2023 report and recommendation, thereby vacating part of a 2020 U.S. Department of Labor (DOL) “new interpretation” of a test for whether financial professionals are acting as investment advice fiduciaries under the Employee Retirement Income Security Act....