Judge: Explain Need for DOL Rule Injunction

March 15, 2017 by John Hilton

A Texas judge asked plaintiffs today to explain why an emergency injunction is needed given the Department of Labor’s willingness to defer enforcement.

Judge Barbara M.G. Lynn of the Northern District of Texas gave plaintiffs, which include the U.S. Chamber of Commerce and the Insured Retirement Institute, until Thursday to file briefs.

Plaintiffs asked for the emergency injunction Friday to delay the April 10 “applicability date” of the DOL fiduciary rule.  That same day, the DOL released a bulletin alerting the financial services industry that it will not pursue enforcement of the rule in the short term.

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Originally Posted at InsuranceNewsNet on March 14, 2017 by John Hilton.