FSI Submits Comment Letter on DOL’s Proposed Fiduciary Rule
Today the Financial Services Institute submitted a comment letter to the Department of Labor (DOL) regarding its proposed fiduciary rule.
Click here to read FSI’s comment letter.
“Since 2009, before Dodd-Frank was law, we supported the creation of a uniform fiduciary standard,” said FSI President & CEO Dale Brown. “However, the Department of Labor’s current proposal is unworkable. It will limit Main Street Americans’ access to much-needed retirement advice, and studies show that savers who work with an advisor save more money compared to those who try to invest on their own. The proposal will also add complexity to an already complicated regulatory environment, not only for broker-dealers, investment advisers and financial advisors, but also for investors. We are eager to work with the DOL to ensure our shared investor protection goals are met without limiting access to quality, affordable financial advice, products and services.”
Related Posts
FSI Statement on DOL Hearing on Proposed Fiduciary PTE
Today, the Department of Labor (DOL) held hearings on its proposed prohibited transaction exemption (PTE) for investment advice fiduciaries. For …
Read MoreFSI Announces Inaugural Honorees of its New Advocacy Recognition Awards
Twenty Dedicated FSI Members Named to First Advocacy Circle of Excellence, Recognizing Outstanding Commitment to Advocacy on Behalf of Main …
Read MoreMarc Squires Elected to FSI Board of Directors
The Financial Services Institute (FSI) today announced the election of Marc Squires, Head of Wealth and Brokerage Platforms, Fidelity Institutional, to its Board of Directors.
Read More