NAFA Statement on DOL Fiduciary Rule
May 23, 2017 by Chip Anderson
Disappointed in Decision not to Delay Rule Implementation Date
Washington, D.C., May 23, 2017 – NAFA, the National Association for Fixed Annuities, is very disappointed that Secretary Acosta did not delay the June 9th implementation deadline of the DOL “Fiduciary Rule.” NAFA has remained strongly opposed to the June 9th implementation date of the Fiduciary Rule consistent with the analysis mandated by President Trump’s Executive Memo of February 3rd.
“NAFA continues to be concerned with the adverse consequences that will result to everyday Americans and the entire annuity industry once this harmful rule takes effect on June 9th. As shown in comment letters submitted to the DOL as part of its review of the rule, NAFA and other stakeholders have provided new information demonstrating the flaws of DOL’s prior regulatory impact analysis,” said Chip Anderson, Executive Director of NAFA. NAFA looks forward to meeting with the Department of Labor, Congress and other industry officials to review and hopefully rescind the rule.
Read Acosta’s comment HERE
Chip Anderson
Executive Director of NAFA
Chip@NAFA.com
(414)332-9306 x.1
