Complaint Filed in the U.S. District Court for the State of Texas on DOL’s Fiduciary Rule

The U.S. Chamber of Commerce, Financial Services Institute, Financial Services Roundtable, Greater Irving-Las Colinas’ Chamber of Commerce, Insured Retirement Institute, Lake Houston Area Chamber of Commerce, Lubbock Chamber of Commerce, Securities Industry and Financial Markets Association, and Texas Association of Business filed a summary judgment motion in their ongoing litigation against the U.S. Department of Labor. The filing is part of a federal lawsuit filed on June 1st, challenging the Labor Department’s fiduciary rule for brokers, registered investment advisers, and insurance agents serving Americans with Individual Retirement Accounts (IRAs), 401(k) plans, and other retirement vehicles, such as annuities.