DC Judge Rejects NAFA Request to Delay DOL Rule

November 29, 2016 by John Hilton

A District of Columbia federal judge rejected plaintiffs’ request last week to set aside the fiduciary rule applicability date until its appeal is heard.

Judge Randolph D. Moss denied the request by the National Association for Fixed Annuities. On Nov. 4, Moss denied NAFA’s motion for a preliminary injunction and granted a summary judgment to the Department of Labor.

NAFA quickly appealed and requested two things: an expedited ruling and an injunction delaying the rule’s April 10, 2017 effective date. Moss granted the former motion, but left the date of compliance untouched.

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Originally Posted at InsuranceNewsNet on November 28, 2016 by John Hilton.