A cohort of lawmakers in the House of Representatives, including two Democrats, has penned a letter to Labor Secretary Thomas Perez, calling on him to scrap the existing proposed fiduciary rule and re-propose a new regulation that accounts for stakeholders' concerns.
Rep. Ann Wagner, R- Missouri, who introduced the Retail Investor Protection Act in 2013, a law that would require the Securities and Exchange Commission to take the lead in writing a new fiduciary standard and that passed the House before stalling in the Senate, was the lead signatory to this most recent letter.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
