Injunction Sought In Suit Over DOL’s New Rule On Investment Advice Fiduciaries

(May 22, 2024, 5:21 PM EDT) -- TYLER, Texas — In a suit challenging a new U.S. Department of Labor (DOL) rule that redefines and broadens who is an investment advice fiduciary under the Employee Retirement Income Security Act, trade organization Federation of Americans for Consumer Choice Inc. (FACC) and the other plaintiffs moved in Texas federal court on May 21 to stay the effective date and obtain a preliminary injunction....