A Kansas federal judge on Monday rejected the insurer Market Synergy Group Inc.’s request for a preliminary injunction to block the U.S. Labor Department’s fiduciary rule—the second legal victory for regulations aimed at mitigating conflicts of interest in the retirement advice market.
In his 63-page ruling, U.S. District Judge Daniel Crabtree said Market Synergy did not prove that the Labor Department failed to follow appropriate procedures under the Administrative Procedures Act and Regulatory Flexibility Act of 1980 by putting fixed indexed annuities under the rule’s best interest contract exemption, or BICE.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
