SIFMA Statement on DOL Retirement Regulation Proposal

Release Date: February 23, 2015
Contact: Carol Danko, 202-962-7390, 

SIFMA Statement on DOL Retirement Regulation Proposal

Washington, DC, February 23, 2015 - SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr., on the DOL retirement regulation proposal:

"While we cannot comment on a proposal we have not yet seen, we have ongoing concerns that the DOL regulation could adversely affect retirement savers, particularly middle class workers. The new regulation could limit investor choice, cause inconsistencies as different regulators would apply different standards to the same retirement accounts, prohibit access to investor guidance, and raise the costs of saving for retirement. As the process moves forward, OMB must consider all of the facts, including the fact that the brokerage industry is highly regulated by the SEC and FINRA, including with respect to retirement accounts, and in particular, recent guidance by FINRA with respect to rollovers. This proposal needs a thorough review as it has the potential to cause a detrimental impact on all American savers and the retirement system as a whole."


The Securities Industry and Financial Markets Association (SIFMA) brings together the shared interests of hundreds of securities firms, banks and asset managers. SIFMA's mission is to support a strong financial industry, investor opportunity, capital formation, job creation and economic growth, while building trust and confidence in the financial markets. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit




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In New York:
Katrina Cavalli


 Liz Pierce



In Washington:

Carol Danko

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