Three prominent Senate Democrats and ardent backers of the Labor Department's fiduciary rule are accusing Labor Secretary Alexander Acosta of talking out of both sides of his mouth.
A letter signed by Sen. Patty Murray, D-WA, Sen. Elizabeth Warren, D-MA, and Sen. Cory Booker, D-NJ, claims recent reports that Acosta has made freezing the fiduciary rule his primary priority is a contradiction from the sworn testimony he gave during his confirmation hearing.
"You were asked during your confirmation hearing about your plans for the conflict of interest rule, and you stated that you would follow the 'executive orders of the President'," the lawmakers wrote.
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.