Finseca CEO Pans New DOL Fiduciary Regs, Sketches Litigation Path

April 30, 2024 by Allison Bell

Marc Cadin, the chief executive officer at Finseca, said he and colleagues at the financial services professional group have now read the Labor Department’s new final investment advice fiduciary rule definition carefully enough to know for certain that they still hate it.

Department officials seem to think that they addressed many life and annuity sector player complaints about the draft posted in October 2023, by, for example, exempting general sales pitches and investor education presentations and emphasizing that a fiduciary obligation affects only people and companies that regularly make investment recommendations to retirement savers.

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Originally Posted at Think Advisor on April 25, 2024 by Allison Bell.