Insurance Group Drops DOL Rollover Advice Suit
April 30, 2026 by Melanie Waddell
The Federation of Americans for Consumer Choice has dropped its lawsuit against the Labor Department challenging the agency’s guidance issued in 2020 on who is considered a fiduciary when giving rollover advice.
The FACC lawsuit pending against Labor in a Texas federal court, which challenged the 2020 fiduciary guidance stating that one-time rollover advice was fiduciary advice, “was rendered moot” by DOL’s vacatur in mid-March of portions of the preamble to Prohibited Transaction Exemption 2020-02 on rollover advice, FACC said Monday.
Originally Posted at Think Advisor on Apr 27, 2026 by Melanie Waddell.
Categories: Industry Articles
