This week’s news that President-Elect Donald Trump would
name Andy Puzder, chief executive officer of CKE Restaurants, as Secretary of
the Department of Labor answered weeks of speculation in the retirement plan
services industry. The fate of the fiduciary rule rests largely in the hands of
the next DOL chief—and whoever is subsequently named leader of the Employee
Benefits Security Administration. It is still unclear how the CEO of a company known
for operating the Hardee's and Carl's Jr. burger brands will view the complex and
controversial regulation, but we will likely soon find out.