Fiduciary Rule Appeal Stayed Pending Fifth Circuit Decision

A challenge to the Labor Department’s fiduciary rule will remain pending in a Washington, D.C., court until circuit court judges in New Orleans rule in a similar lawsuit by the U.S. Chamber of Commerce and other industry groups.

The U.S. Court of Appeals for the District of Columbia Circuit Nov. 15 granted a motion by the National Association for Fixed Annuities to temporarily suspend the oral argument that was set for early December (Nat’l Assoc. for Fixed Annuities v. Acosta, D.C. Cir., No. 16-5345, order granting appellant’s unopposed motion to continue oral argument 11/15/17).

The DOL didn’t oppose ...