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DoL Responds to Lawsuit Targeting Fiduciary Standard

In response to litigation targeting the fiduciary standard rule, the Department of Labor argues its new regulation is consistent with the law, backed by appropriate research, and is reasonable. So reports InsuranceNewsNet.

The litigation opposing the fiduciary standard maintains that the DoL has overstepped its bounds in passing the rule and has created unnecessary burdens while undermining the interests of retirement investors.

The regulator is asking for the lawsuit to be dismissed in summary judgement.

Read the full article from InsuranceNewsNet.

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