DOL Rule Appeals Likely to Drag Well Into ’17

October 6, 2016 by John Hilton

As the financial services industry eagerly awaits decisions from the bench, thoughts are turning to appeals in lawsuits filed against the Department of Labor’s fiduciary rule.

The first lawsuit by the National Association for Fixed Annuities – requesting a preliminary injunction stopping the entire rule – was heard Aug. 25 in District of Columbia District Court. A decision is expected any day from Judge Randolph D. Moss.

Erin Sweeney, a Washington lawyer who is not involved in the case, said she expects Moss’ decision will be appealed. Even in the best-case scenario, that could drag the case out well into 2017.

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Originally Posted at InsuranceNewsNet on October 6, 2016 by John Hilton.