NAFA Alert- Federal District Court Hears NAFA's Challenge to DOL Rule
Last Thursday, a hearing on a motion for preliminary injunction and summary judgment was held in the United States District Court for the District of Columbia in Washington, D.C. in NAFA's lawsuit against the Department of Labor. This is the first hearing in a string of lawsuits challenging DOL's fiduciary rule. Attorney Philip D. Bartz of Bryan Cave LLP led NAFA's litigation efforts in front of a standing room-only crowd.
>>Continue reading the NAFA Alert HERE
NAFA Seeks Preliminary Injunction against DOL Fiduciary Rule
WASHINGTON (June 2, 2016) — NAFA, the National Association for Fixed Annuities, announced today that it has filed a federal lawsuit in the D.C. District Court challenging the Department of Labor’s new “fiduciary rule.” The lawsuit seeks a preliminary injunction to stay the rule, which is currently scheduled to become operational in April 2017.
>> Continue reading the press release HERE.
>> Read the complaint NAFA filed HERE.
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As a NAFA member, you can be part of the solution to this problem by contributing to our NAFA legal action fund HERE. Without your contribution, we will not be able to formally challenge this rule, and it is entirely possible that the rule will survive and cause irreversible damage to the fixed annuity industry. To learn more, click HERE.
NAFA, the National Association for Fixed Annuities, is the premier trade association exclusively dedicated to fixed annuities. Our mission is to promote the awareness and understanding of fixed annuities. We educate annuity salespeople, regulators, legislators, journalists, and industry personnel, about the value of fixed annuities and their benefits to consumers. NAFA’s membership represents every aspect of the fixed annuity marketplace covering 85% of fixed annuities sold by independent agents, advisors and brokers. NAFA was founded in 1998.
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