DOL Fiduciary Rule Challengers Leave Nothing To Chance

By Carmen Germaine (June 2, 2016, 10:59 PM EDT) -- Industry groups filing a lawsuit challenging the U.S. Department of Labor's fiduciary rule have covered all their bases in an effort to increase their chances of success, backing up novel administrative law claims with a First Amendment claim and filing in an injunction-friendly Dallas federal court, experts said.

Industry groups argue the DOL overstepped its authority and that the new regulations will harm retirement savers. (Credit: Law360) The U.S. Chamber of Commerce, the Securities Industry and Financial Markets Association and six other national and local industry groups filed the lawsuit late Wednesday to halt the final rule imposing a fiduciary duty...

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