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March 16, 2026
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Court Strikes Down DOL Fiduciary Rule
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The U.S. District Court for the Eastern District of Texas struck down the 2024 Department of Labor fiduciary rule on Thursday, vacating the extensive and closely watched case.
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A ruling had been anticipated after plaintiffs filed an unopposed motion on
March 9, 2026, asking the court to issue judgement. Industry plaintiffs—including the Insured Retirement Institute (IRI), Federation of Americans for Consumer Choice (FACC), National Association for Fixed Annuities (NAFA), and other major insurance and financial services trade groups—argued that the 2024 fiduciary rule would ultimately harm consumers by restricting access to retirement advice and solutions.
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With Thursday’s ruling, the entire 2024 rulemaking package will be vacated, including its amendments to the five-part fiduciary test and the related prohibited transaction exemptions (PTEs).
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Since the rule was proposed in 2023, IRI and other industry organizations have advocated for protecting consumers and preserving access to retirement advice and solutions. Legacy Marketing Group® thanks those who participated in the litigation for their invaluable contributions to help ensure that Americans have access to essential retirement products and services.
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For more information, call Legacy’s Marketing Field Support Team at
800-395-1053, Ext. 4002.
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