Update: DOL Fiduciary Rule on Hold After Successful Challenge By Insurance Industry Artwork

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Crump Insights

Update: DOL Fiduciary Rule on Hold After Successful Challenge By Insurance Industry

August 09, 2024 • Crump Life Insurance Services

Implementation of the Department of Labor's Retirement Security Rule is on hold after a successful challenge by Finseca, the American Council of Life Insurers and several other insurance trade organizations. Texas Federal Court Judge Reed O'Connor said the industry is "virtually certain" to succeed in claims against the DOL.

So what does this mean for financial professionals, the insurance industry, and recommendations related to transfers from qualified plans? Download this episode to hear Joy Dawe, Crump's Senior Vice President of Market Conduct, and Armstrong Robinson, Finseca's Chief Advocacy Officer, discuss the latest news and share their insights on the rule and its impact on the industry.

Learn more:
https://www.finseca.org/dol-update/