Rep. Peter Roskam, R-Illinois, suggested the Department ofLabor’s proposed fiduciary rule is part of a larger agenda tocrowd out the private market inproviding for the country’s retirement savings needs.

Roskam’s premise was made at an event hosted by the FinancialServices Roundtable.

The fifth term Congressman called the DOL’s rule a “plaintiff lawyer'sdream,” and said advocates of the rule are advancing a falsenarrative that says if you are not for the new rule, then you areagainst all regulation of the retirement market.

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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.