DoL

SEC staff recommended this solution as far back as 2011.

The Obama-era regulation may survive even Trump's sweeping regulatory rollback, some experts say.

Organization takes the case "to put a spotlight on a bank that may have engaged in misconduct more significant than Wells Fargo's."

The decision landed just hours after the Department of Labor asked for the decision to be postponed while it complies with a Trump order to review the regulation.

The move is additional fallout from the president's memo to the Department of Labor to review the regulation and possibly rescind it.

Here’s what the president’s actions mean for advisers and firms.

The final version of the memorandum that President Trump signed did not actually include a provision to hold up the regulation. It's still game on.

"Just the talk about the rule has been free advertising for planners committed to prioritizing their client's needs over juicing their own compensation," says one leading fiduciary planner.

"My expectation is that a lot of firms are going to continue installing a best-interest standard, regardless," said Brian Graff, CEO of the American Retirement Association.

While a review will be undertaken by the Labor Department, the White House signaled that the president was expecting significant change.