Final rule · 2026-05492

Retirement Security Rule: Definition of an Investment Advice Fiduciary: Notice of Court Vacatur

This document implements the judicial vacatur of the Department's 2024 final rule defining who is a "fiduciary" under the Employee Retirement Income Security Act of 1974. This document also reflects the judicial vacatur of the Department's 2024 amendments to Prohibited Transaction Exemption 2020-02 (PTE 2020-02) and the judicial vacatur of portions of the preamble to PTE 2020-02; and republishes in full the operative text of PTE 2020-02 (as originally published on December 18, 2020).