Oral arguments were heard last week in U.S. District Court for the District of Kansas on behalf of Market Synergies Group, a Topeka, Kansas-based consortium of 11 independent marketing organizations that accounted $15 billion worth of fixed indexed annuity sales in 2015 through more than 3,000 independent insurance agents.
In Market Synergies Group, Inc. v. United States Department of Labor, the independent marketing organization is not asking the Kansas court to block the Labor Department’s entire fiduciary rule — just the provision that affects the regulation of fixed indexed annuities.
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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.
