Davis Polk lawyers believe the US elections will slow the pace of regulatory reform, but highlighted the DOL fiduciary rule as one of 8 regulatory predictions in 2016.
4. DOL fiduciary rule finalised Having survived a well-organised Hill strategy by the securities industry to impede its adoption, the Department of Labor’s fiduciary rule will be finalised in early 2016, handing the Obama administration a signature victory. We expect the rule to be effective before year-end. The Securities Exchange Commission, however, is unlikely to make fiduciary duty rules for securities brokers a priority in 2016.