The National Association for Fixed Annuities said Monday it will appeal the decision by a Washington federal trial judge denying the annuity group’s request to block the U.S. Department of Labor’s fiduciary rule.
U.S. District Judge Randolph Moss denied in his 92-page ruling, released late Friday afternoon, NAFA’s request for a preliminary injunction to stay the rule. Moss simultaneously ruled in favor of the Labor Department on the merits of the rule, which was designed to reduce conflict of interests in the investment-retirement industry.
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