DOL’s Fiduciary Rule Remains in Limbo

On March 23, 2018, the National Association for Fixed Annuities and the U.S. Department of Labor (the “Department”) and Secretary of Labor R. Alexander Acosta, in Case No. 16-5345, an ongoing legal challenge to the Department’s fiduciary rule, have stipulated and agreed to voluntarily dismiss the case. The Department said after the Fifth Circuit decision that it will not enforce the rule, at least for now, and has not directly addressed whether it will seek review from the U.S. Supreme Court.