Annuity Group Sues DOL Over Fiduciary Rule

February 8, 2022 by Allison Bell

The Federation of Americans for Consumer Choice has gone to court to try to block a U.S. Labor Department revival of an Obama-era definition of the term “fiduciary.”

FACC contends that the department made the interpretation change in the preamble, or official introduction, to a “prohibited transaction exemption” revision, rather than in the actual text of the revised exemption.

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Originally Posted at ThinkAdvisor on February 3, 2022 by Allison Bell.