Two new lawsuits seeking to vacate the U.S. Department of Labor’s fiduciaryrule have been filed, bringing the latest total tofour lawsuits.

The third lawsuit is from a consortium of insurance industrytrade groups, and the fourth is by a trade organizationrepresenting fixed indexed annuities and several insurance companyissuers of those products.

ACLI, NAIFA and affiliates v. Department of Labor

The Washington, D.C.-based American Council of Life Insurers, the Falls Church,Va.-based NationalAssociation of Insurance and Financial Advisors, and several ofNAIFA’s regional affiliates have filed suit in U.S. District Courtfor the Northern District of Texas, alleging the Labor Department'srule is in breach of the Administrative Procedure Act and the FirstAmendment of the U.S. Constitution.

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Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.