Industry stakeholders would be wise to temper hopes that introduced legislation to delay implementation of the Labor Department’s fiduciary rule will be addressed quickly, according to one veteran industry advocate.
The Protecting American Families’ Retirement Advice Act, introduced by Rep. Joseph Wilson, R-SC, last week, would move the implementation date for the rule to two years after passage of the bill. The first implementation date is scheduled for April 10.
“To get this bill through quickly would be a real challenge,” said Diane Boyle, senior vice president of government relations for National Association for Insurance and Financial Advisors. NAIFA, whose core membership sells life insurance along side investment products, is opposed to the rule.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
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.
