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Supplement to
May 2, 2018

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Fifth Circuit Denies Motions to Intervene in DOL Fiduciary Lawsuit (PDF)

"[T]he opposed motion of the States of California, New York, and Oregon, for leave to intervene is DENIED.... [T]he opposed motion of AARP, for leave to intervene is DENIED." [U.S. Chamber of Commerce v. DOL, No. 17-10238 (5th Cir. May 2, 2018)]
U.S. Court of Appeals for the Fifth Circuit

[Opinion]

IRI Statement on Denial of Motions to Intervene in DOL Fiduciary Lawsuit

"We are pleased the Fifth Circuit denied the motions to intervene, and that the [DOL]'s unlawful 2016 fiduciary rule is at an end. The SEC, not the DOL, is the appropriate regulator in this area, and we look forward to working with the SEC on the current proposed rulemaking to establish a best interest standard across all accounts, and not just retirement accounts." [U.S. Chamber of Commerce v. DOL, No. 17-10238 (5th Cir. May 2, 2018)]
Insured Retirement Institute [IRI]

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