SIFMA Issues Statement on DOL Fiduciary Rule Delay

SIFMA President and CEO Kenneth E. Bentsen, Jr. issued a statement regarding the decision by the Department of Labor ("DOL") to delay its August 2014 fiduciary rule until at least January 2015.

In his statement, Mr. Bentsen said that, from day one, the fiduciary rule has been a "troubled proposal" that would harm the ability of American investors and small business owners. Mr. Bentsen asserted that the DOL's actions "undermine the SEC's work to improve upon the standard of conduct owed by broker-dealers and investment advisers to retail clients."

See: SIFMA Statement.

Premium Content

Available only to Premium subscribers.

 

Tags