We are pleased to inform you the
Fifth Circuit Court of Appeals
took the final step last week to execute its
March decision vacating the
Department of Labor’s Fiduciary Rule.
Because the Rule is now officially
vacated, American Equity will
no longer require completion of the PTE 84-24
Disclosure and submission
of the Agent Attestation. System updates are
being made to reflect these
changes. We will let you know of any other
changes to our processes or
procedures as they are determined.
As a best practice, any other DOL
resources you use should be
reviewed, and any references to the Rule or a
fiduciary standard removed.
Please confirm with your broker dealer or
marketing organization any other
changes they may require.
American Equity is proud to have
been actively involved in the
fight against the Fiduciary Rule, including the
litigation vacating the
Rule. We will continue to be active in
discussions regarding the regulation
of our products and will keep you informed of
any changes. We thank you for
your business and partnership throughout this
challenging time and look
forward to a mutually successful future.