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Text of ACLI and NAIFA Memorandum in Support of Motion for Summary Judgment in Challenge to DOL Fiduciary Rule (PDF)
American Council of Life Insurers [ACLI] and National Association of Insurance and Financial Advisors [NAIFA] 
July 25, 2016
45 pages. "The regulation at issue here is a misguided and unprecedented intervention in the retirement savings marketplace. It will unnecessarily restrict consumers' access to annuity products and important information about those products. Yet the rulemaking failed to examine meaningfully the effects of the Rule on the annuity marketplace.... [T]he Rule will unnecessarily drive up the costs of guaranteed lifetime income products, distort the marketplace for retirement products generally, interfere with consumers' access to truthful information about those products, and worsen, not help resolve, the profound challenges facing retirement investors." [U.S. Chamber of Commerce, et al. v. Perez, No. 16-1476 (N.D. Tex., motion filed July 18, 2016)]
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