Pennsylvania + Wall



 

Pennsylvania + Wall provides commentary on a broad range of current financial, economic and regulatory reform topics. The views expressed are those of the authors, and do not necessarily reflect the position of SIFMA.

February 09, 2017

The Hill: DOL Pending Fiduciary Rule Remains Flawed, Negatively Impacting the Marketplace

By Kenneth E. Bentsen, Jr. 

Ken BentsenThe following op-ed was published in The Hill February 9, 2017.

Over the last several days there has been a fair amount of chatter around the Department of Labor's pending fiduciary rule, which we believe could make retirement saving more difficult for many Americans.  I'd like to set the record straight. 

First, the industry has been working diligently over the past eighteen months to prepare to comply with the rule before it becomes applicable on April 10, 2017.  Our member firms have undertaken this effort not because we agree with the rule, either in whole or in part, but rather if it's the law, we comply. The industry will endeavor to undertake what its regulators task it to do, but that doesn't mean the rule is without flaws (it isn't), or that the implementation timeline wasn't realistic (it wasn't), or that the implementation timetable demanded by the rule won't have consequences (it will). Continue Reading...

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We encourage you to submit comments, queries and suggestions on our blog entries. Comments must be relevant to the post, and contribute to a substantive and informed dialogue for our fellow blog readers. Comments are moderated and will post below the entry, subject to the guidelines found in the right-column.

The Hill: DOL Pending Fiduciary Rule Remains Flawed, Negatively Impacting the Marketplace

(Public Policy, In My View) Permanent link

By Kenneth E. Bentsen, Jr. 

Ken BentsenThe following op-ed was published in The Hill February 9, 2017.

Over the last several days there has been a fair amount of chatter around the Department of Labor's pending fiduciary rule, which we believe could make retirement saving more difficult for many Americans.  I'd like to set the record straight. 

First, the industry has been working diligently over the past eighteen months to prepare to comply with the rule before it becomes applicable on April 10, 2017.  Our member firms have undertaken this effort not because we agree with the rule, either in whole or in part, but rather if it's the law, we comply. The industry will endeavor to undertake what its regulators task it to do, but that doesn't mean the rule is without flaws (it isn't), or that the implementation timeline wasn't realistic (it wasn't), or that the implementation timetable demanded by the rule won't have consequences (it will). Continue Reading...

Posted by Laurie Moore at 02/10/2017 12:30:41 PM | 


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