SIFMA Statement on DOL Fiduciary Rule, Omnibus Appropriations Act

Release Date: December 16, 2015

Contact:  Carol Danko, 202-962-7390, [email protected]  

SIFMA Statement on DOL Fiduciary Rule, Omnibus Appropriations Act

Washington, DC, December 16, 2015 – Today,SIFMA president and CEO Kenneth E. Bentsen, Jr. issued the following statement in response to introduction of the FY2016 Omnibus Appropriations Act, which did not include language to delay the Department of Labor’s fiduciary rule proposal:   

‎”We continue to believe the DOL rule as proposed will have negative consequences for retirement savers: restricting access to financial advice and raising the cost of saving.  As we have repeatedly said, there are so many issues with the proposal, as evidenced by the thousands of substantive comments filed, that the Department should re-propose the rule.”