A federal appeals court has denied an emergency motion to delay implementation of the Department of Labor’s fiduciary rule.
The National Association of Fixed Annuities filed the motion, requesting the implementation date for the rule be delayed at least 10 months, and up to two years.
NAFA is appealing a November decision in the U.S. District Court for the District of Columbia that upheld the rule, which requires advisors of retirement investment accounts to act solely in the interest of investors.
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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.
