Insurance Groups Take Legal Action to Halt DOL's Broadened Fiduciary Definition
Monday, 15 July 2024, 22:54
Insurance Groups Seek Injunction
Several insurance groups are seeking to block the U.S. Department of Labor's broadened definition of fiduciaries under federal benefit law.
Legal Action Against DOL
The groups are urging a Texas federal court to halt the new regulations, citing similarities to an invalidated rule from 2018.
Concerns and Call for Intervention
The insurance groups believe the new rule raises serious concerns and are taking legal steps to address the issue.
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