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DOL Fiduciary News: April 3, 2018

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DC Circuit officially dismisses NAFA appeal of fiduciary rule

BenefitsPRO | April 02, 2018 at 02:48 PM

The U.S. Court of Appeals for the District of Columbia Circuit has officially dismissed the National Association for Fixed Annuities’ appeal of a lower court decision upholding the Labor Department’s fiduciary rule.

In March, NAFA and the Labor Department agreed to a voluntary dismissal of the appeal, after the 5th Circuit Court of Appeals issued a decision vacating the fiduciary rule.

By officially dismissing the appeal, the DC Circuit has put to rest speculation that the court would retain jurisdiction over the case in spite of the parties’ agreement to voluntary dismiss the appeal. 

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