‘Zombie’ Fiduciary Rule Must Stay Dead, Industry Expert Says

May 22, 2019 by John Hilton

While there is plenty of regulatory rumblings on several fronts, the Department of Labor is not reviving the dreaded fiduciary rule, a National Association for Fixed Annuities’ spokeswoman said today.

Labor Secretary Alexander Acosta testified May 1 before the House Education and Labor Committee. He described department rulemaking vis-a-vis the late fiduciary rule, which was thrown out by the Fifth Circuit Court of Appeals one year ago.

Acosta fumbled his answer a bit, said Pam Heinrich, general counsel for NAFA.

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Originally Posted at InsuranceNewsNet on May 21, 2019 by John Hilton.