U.S. Department of Labor building in Washington, D.C, on January 12, 2022. Photo: Diego M. Radzinschi/ALM 
What You Need to Know
- A group of national insurance and financial advisor associations challenged a U.S. Labor Department rule they claim disrupts the retirement annuities market.
- The plaintiffs allege a rule defining insurance brokers and agents as fiduciaries conflicts with other regulators' authority.
- The complaint argues the rule is too similar to a 2016 DOL rule the U.S. Fifth Circuit rejected.
A coalition of national and regional insurance and financial advisor associations is challenging a U.S. Department of Labor rule they claim would disrupt the retirement annuities marketplace.
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