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DOL Appeals Florida Court Ruling that Overturns Fiduciary Rule Guidance

By NAIFA on 5/15/23 7:00 AM

On April 14, the U.S. Department of Labor (DOL) filed a notice of appeal to the 11th Circuit Court of Appeals on a Florida District Court ruling (American Securities Association v. United States Department of Labor) that struck down parts of the agency’s sub-regulatory guidance on the applicability of the fiduciary standard to advice on rolling over ERISA plan retirement funds into IRAs.

Topics: Legislation & Regulations Florida Fiduciary