A consortium of consumer advocate groups says the LaborDepartment’s decision to drop its defense of the fiduciary rule’srestriction on class-action waivers is “withoutjustification.”
In court documents filed with the 5th Circuit Courtof Appeals last week, government attorneys said they would nolonger defend one claim in the most wide-ranging of lawsuitsseeking an injunction of the fiduciary rule. The claim? That the provision inthe rule’s Best Interest Contract Exemption prohibitingclass-action waivers violates the Federal Arbitration Act.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.