FSI Statement on Omnibus Bill

Below is a statement from FSI President & CEO Dale Brown regarding the omnibus bill and its lack of a provision addressing the Department of Labor’s (DOL) fiduciary rule:

“Congress not only has the right but the duty to fulfill their legislative role and protect retirement savers. The odds of passing an omnibus bill with a rider to protect retirement investors from the Department of Labor’s fiduciary rule, however, were always slim. But that rider is not Congress’ only chance to act. We are very pleased with the efforts of Representatives Roskam and Neal to drive a bipartisan solution to this critical issue. We note that Sens. Portman and Cardin have stated their strong belief that Congressional involvement is essential. This is why all advisors must get engaged in the legislative process and advocate for hard-working Americans trying to save for a dignified retirement.”