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November 7, 2016 | US Federal Court Rejects Motion to Kill Fiduciary Standard Rule

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

On Friday, a US federal court denied a motion from an annuity sales group to defeat the incoming fiduciary standard for those advising on retirement. There is some hope!! See: Federal Court rejects NAFA attempt to kill fiduciary standard rule:

In the first court decision involving a legal challenge to the DOL rule, U.S. district judge Randolph Moss in Washington, D.C., turned back the challenge brought by the National Association for Fixed Annuities.

In addition to seeking a preliminary injunction to delay the implementation date, NAFA also was asking the court to vacate and set aside the fiduciary rule and its associated exemptions…

Secretary of Labor Thomas Perez, named in the suit, called the ruling “a win for working Americans who simply want a secure retirement.”

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November 7th, 2016

Posted In: Juggling Dynamite

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