Erin Sweeney Quoted Regarding Lawsuits Filed Against the DOL Fiduciary Rule in Forbes

"Obama Vetoes Resolution Against DOL Retirement Rule As Lawsuits Fly"
06.08.16Erin Sweeney was quoted regarding the lawsuits filed against the U.S. Department of Labor (DOL) regarding the new fiduciary rule. By filing multiple lawsuits, opponents to the rule can hope to obtain a split in lower court opinions, which could move the issue up to the Supreme Court, Sweeney said. Sweeney added that filing the case in the Texas district court was a strategic move as a judge in that court was willing to enjoin enforcement of a DOL regulation last year in State of Texas v. U.S. The argument remains that the DOL can't regulate something by exemption that it can't regulate upfront, Sweeney said, noting that the Internal Revenue Service has authority over Individual Retirement Accounts, the U.S. Securities and Exchange Commission has authority over financial advisors and the DOL has authority over qualified plans.
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