The 5th Circuit is regarded as the best chance opponents of the fiduciary rule have to overturn it via the courts. A decision was expected as early as last September, but the court has been silent. (Photo: AP)
This week, 10th Circuit Court of Appeals affirmed a lower court ruling upholding the Labor Department's fiduciary rule.
Market Synergies Group, a Topeka, Kansas-based independent marketing organization that accounted for $15 billion worth of fixed indexed annuity sales in 2015, sued the Labor Department over a provision in the fiduciary rule that regulates FIAs under a new, more onerous prohibited transaction exemption.
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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.
