Lake Houston Area Chamber of Commerce

110 W MAIN ST, Humble, TX 77338

U.S. DOL argues new fiduciary rule will have ‘enormous’ benefits for investors

By Jessica Karmasek | Friday, Aug 26, 2016 @ 2:53pm

The Department of Labor, in a lawsuit brought by a group of trade associations in June, contends its conflicts of interest rule, despite the cost, better serves investors and aligns with other federal retirement laws. The department is asking a Texas federal court to rule in its favor.
U.S. DOJ defends Labor Department’s fiduciary rule in court filing, says injunction would be ‘detrimental’

By Jessica Karmasek | Tuesday, Jul 12, 2016 @ 11:50am

Last month, the National Association for Fixed Annuities, or NAFA, filed a lawsuit in the U.S. District Court for the District of Columbia. The DOJ, on behalf of the DOL and Perez, filed its own proposed order with the D.C. federal court last week, arguing the rule is necessary to “safeguard the retirement savings of millions of American consumers.”
Trade associations sue U.S. Department of Labor in hopes of overturning fiduciary rule

By Jessica Karmasek | Wednesday, Jun 22, 2016 @ 1:54pm

The DOL released its final rule in April. The rule, sometimes referred to as the conflicts of interest rule, mandates financial professionals who service individual retirement accounts, including IRAs and 401(k) plans, to serve the “best interest” of the savers and disclose conflicts of interest.