Search
 

NAFA vows to appeal decision on DOL rule

Though its challenge to the DOL fiduciary rule was denied, the National Association of Fixed Annuities will appeal the U.S. District Court ruling. Will this set up an appellate split that might prompt the Supreme Court to hear the case?

By Nick Thornton | Updated on November 08, 2016
The timing of NAFA’s appeal to the D.C. Circuit will be important -- if expedited, a decision could be issued in months. (Photo: AP)

The National Association of Fixed Annuities, the trade organization that represents 85 percent of the fixed annuity market, said it would appeal the ruling from the U.S. District Court for the District of Columbia that upheld the Department of Labor’s fiduciary rule.

Judge Randolph Moss denied NAFA’s motions for preliminary injunction and summary judgment. NAFA’s suit challenged DOL’s authority to promulgate the rule on six counts, brought under the Administrative Procedures Act and the Regulatory Flexibility Act.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 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.

Nick Thornton

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.

More from this author

Dig Deeper

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.