DOL: Fiduciary Rule Lawsuit Angle ‘Will Likely Be Mooted’
August 28, 2017 by John Hilton
The Department of Labor sent its clearest signal yet this week that it plans to eliminate the hated class-action lawsuit provision of the Obama-ere fiduciary rule.
In a court brief filed in District of Minnesota federal court, government attorneys said the lawsuit angle “will likely be mooted in the near future.”
The lawsuit right is included in the Best Interest Contract Exemption, which agents will need to comply with in order to sell variable and fixed indexed annuities.
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Originally Posted at InsuranceNewsNet on August 25, 2017 by John Hilton.
Categories: Industry Articles