The U.S. District Court for the District of Columbia will most likely deny the National Association for Fixed Annuities request for an injunction against the U.S. Department of Labor’s fiduciary rule, according to one legal expert.
Erin Sweeney, an attorney with Miller & Chevalier Chartered, said the line of questioning from Judge Randolph Moss, a 2014 Obama administration appointee, suggested he will uphold the Labor Department's rule on the grounds that NAFA failed to persuasively argue the rule will cause providers and distributors of fixed indexed annuities irreparable harm.
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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.
