Brokerage, Annuities Industries Make Last-Ditch Effort To Delay DOL Fiduciary Rule
April 23, 2024 by Tracey Longo
With the Department of Labor’s latest fiduciary rule on a path to be finalized by the end of the month, 11 broker-dealer, annuities and insurance trade groups made one last effort today to get the agency to delay finalizing the rule and continue the public input process.
In a letter sent today to the White House, DOL Acting Secretary Julie Su and Office of Management and Budget Director Shalanda Young, the 11 industry associations, including the Financial Services Institute (FSI) and Insured Retirement Institute (IRI), contend that because the agencies rushed the process to get the DOL’s “Retirement Security Rule” to the finish line, they are ignoring the rule’s devastating effects and likely legal challenges.
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