A federal appeals court on Thursday refused to block the U.S.Labor Department's fiduciary rule, adopted to minimize conflictsof interest in the retirement-investment industry, a significantsetback for financial planners, insurance agents and other adviserswho said the rule will disrupt the marketplace.
The National Association for Fixed Annuities inNovember urged the Washington court to freeze for at least10 months the April 10, 2017 start date of the new rule,which requires financial professionals who give retirement adviceto put the best interest of their customers before commissions orfees.
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