Will Courts Crush DOL’s New Fiduciary Rule Soon? Don’t Count on It.

May 14, 2024 by Melanie Waddell

Now that the Labor Department’s new fiduciary rule has been hit with its first lawsuit, others are likely to follow. In the meantime, compliance with the rule marches on as the effective date nears — and advisors should stay the course.

On May 2, the Federation of Americans for Consumer Choice and several independent insurance agents were the first to sue Labor, seeking a preliminary injunction “to stop the new rule from taking effect” during FACC’s existing case against Labor’s PTE 2020-02 on rollover advice.

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Originally Posted at Think Advisor on May 13, 2024 by Melanie Waddell.