The Securities Industry Association (SIA)* provide comments to the Chairman of the U.S. Senate Finance Committee on any potential consideration of pension reform legislation that would be considered by the Senate Finance Committee. SIA notes there is currently a need to increase the availability of investment advice.  Specifically, SIA recognizes that the Retirement Security Advice Act (S. 1978) is an example of legislation that would permit highly regulated advisers to give objective advice in accordance with the Employee Retirement Income Security Act’s (ERISA’s) fiduciary standards and stringent disclosure requirements.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.