DOL Rule ‘Manageable,’ Financial Execs Say
May 17, 2016 by Cyril Tuohy
The Department of Labor (DOL) fiduciary rule will be “manageable” for the purposes of life insurers’ bottom lines. That’s the operating phrase from a host of life insurance company executives over the past several weeks.
That should come as good news to investors, even if the rule will mean important tweaks to products and changes to the way some products are sold.
A year ago, industry lobbyists, gearing up for a battle royale with DOL regulators, were starting to craft response letters objecting to the DOL’s “Conflict of Interest” rules designed to crack down on industry “self-dealing.”
Opponents of the rule — among them financial services companies and commission-based distributors — outlined how higher costs and massive compliance requirements risked running thousands of retail advisors out of the industry. Click HERE to view the full article. INN news articles may require a subscription to read.
