Chamber: IMO Exemption Proves DOL Fiduciary Fail

January 26, 2017 by John Hilton

Plaintiffs suing to kill the Department of Labor fiduciary rule seized on a new exemption offered by the department last week as evidence of the flawed process.

U.S. Chamber of Commerce attorneys argue that the DOL is conceding the futility of its rule by publishing a new exemption allowing independent marketing organizations to participate in the sale of fixed indexed annuities.

The response was filed in a Dallas federal court, where the chamber is the lead plaintiff. Judge Barbara M.G. Lynn heard arguments in the case Nov. 17, but has yet to rule.

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Originally Posted at InsuranceNewsNet on January 25, 2017 by John Hilton.