Phyllis Borzi blames pressure from politicians and a heated lobbying campaign on the part of big companies with a vested interest. How did a simple thing like protecting investors and helping small businesses get to the point where it became a political issue?
Yes, we acknowledge and congratulate the success of the industry's lobbying effort. It goes without saying a few big firms can organize themselves more easily than thousands of small businesses. It also goes without saying the lobbying budget of big business almost always dramatically trumps the amount of dollars small businesses can spend on political causes.
But that's not what killed the DOL's fiduciary rule.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
