June 2, 2016 | By John Hilton | InsuranceNewsNet.com
Editor’s Note: Check back for updates, as we will be breaking down the entire 74-page complaint and getting expert opinion.
Nine groups, led by the U.S. Chamber of Commerce filed an expected lawsuit Wednesday in a bid to stop the Department of Labor fiduciary rule.
The lawsuit was filed in U.S. District Court Northern District of Texas. The 74-page complaint is filed against Labor Secretary Thomas Perez and the DOL. Plaintiffs ask the court to immediate vacate and set aside the rule.
“An injunction would also serve the public interest by averting harm to the operation and viability of financial services companies that are an important part of the U.S. economy,” the complaint reads.
The well-attended Blue Vault session at the recent National Planning Holdings National Conference was very well received. The value of their products was evidenced by the volume of questions from the attendees. Stacy Chitty, Managing Partner, did an excellent job of explaining the history, strategy and value of Blue Vault data.