The American Council of Life Insurers and the National Association of Insurance and Financial Advisors pressed the U.S. Court of Appeals for the 5th Circuit on Wednesday to issue the mandate to vacate the Department of Labor’s fiduciary rule “expeditiously,” as the rule remains in effect and is causing compliance uncertainty.
The trade groups wrote in their filing with the court that until the court issues the mandate to vacate, Labor will continue its “temporary enforcement policy” of not pursuing claims against “investment advice fiduciaries.”
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