Market Synergy Group Files Fifth DOL Lawsuit

June 10, 2016 by John Hilton

Insurance agency Market Synergy Group filed a lawsuit against the Department of Labor in the U.S. District Court for the District of Kansas.

It seeks an injunction to stop the DOL’s controversial fiduciary rule. The complaint calls the rule “arbitrary” and “capricious,” as do previous lawsuits.

As in other suits, Market Synergy claims the DOL has no authority to enact the rule. The company, based in Topeka, said the rule could harm retirees by restricting their access to instruments like fixed annuities, which can provide steady retirement income.

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Originally Posted at InsuranceNewsNet on June 10, 2016 by John Hilton.