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Treichel quoted in article discussing the first lawsuit seeking to strike down the Department of Labor’s Retirement Security Rule

A lawsuit filed shortly after the DOL finalized its Retirement Security Rule, emphasizes differences from past regulations. Critics, including insurance agents and the FACC, argue the rule imposes undue costs and confusion on consumers, targeting fiduciary standards and transaction exemptions for annuities. They assert the rule exceeds DOL authority and disregards congressional intent. Supporters highlight improvements in consumer protection and differentiation from prior failed attempts. Legal experts anticipate further challenges and potential stays pending court decisions, with implications for industry compliance and future regulatory enforcement based on political shifts post-election. Bonnie Treichel, Chief Solutions Officer at Endeavor Retirement tells PLANADVISER, “The plaintiffs don’t address all of the arguments for the DOL Authority to engage in this rulemaking. That will happen later on when the DOL moves to dismiss, and the plaintiffs respond. That will be when we understand more how the substantive argument will play out.” To read more, click here to read Fiduciary Rule Lawsuit Leans on Past Court Strike-Down.