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NAFA Seeks Preliminary Injunction Against DOL Fiduciary Rule (PDF)
National Association for Fixed Annuities [NAFA] Link to more items from this source
June 3, 2016

"NAFA ... has filed a federal lawsuit in the D.C. District Court challenging the [DOL]'s new 'fiduciary rule.' The lawsuit seeks a preliminary injunction to stay the rule, which is currently scheduled to become operational in April 2017.... The lawsuit alleges the DOL rule is invalid on grounds that the agency exceeded its authority to regulate IRAs and that it improperly categorizes insurance agents as fiduciaries. The lawsuit further alleges that the rule creates a private right of action, which only Congress can do."

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