The 5th U.S. Circuit Court of Appeals denied Tuesday another effort by attorneys general from California, New York and Oregon to defend the DOL's fiduciary rule.
Three states trying to save the Labor Department's fiduciary rule are appealing a decision by a federal court to deny their attempt to intervene in the case.
The National Association of Fixed Annuities withdrew its lawsuit against the DOL's fiduciary rule that was pending in the D.C. Circuit Court of Appeals.
Jay Clayton said the SEC is moving forward on a fiduciary rule and its work would not be affected by a court decision striking down the DOL rule.
Sen. Tom Harkin, D-Iowa, chairman of the Senate Health Education Labor and Pensions Committee, would like to create a new private retirement system that is based on professionally managed pools of retirement funds.