On July 8th, the public got its first view into how the U.S. Department of Labor will defend its fiduciary rule when it filed a cross motion for summary judgment, asking the U.S. District Court for the District of Columbia to dismiss a law suit brought by the National Association for Fixed Annuities.
The first hearing in that case, NAFA v. Thomas Perez, et al., has been scheduled for Aug. 25. NAFA is seeking an injunction to stay Labor Department's rule, which is slated for a first round of implementation in April 2017.
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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.
