SIFMA Managing Director Speaks Out Against Fiduciary Proposal

SIFMA's managing director and associate general counsel Lisa Bleier voiced her concerns with the DOL's fiduciary proposal. Ms. Bleier expressed her support for a best-interest standard, but argued that "the DOL's proposal is far too complex and prescriptive – establishing a myriad of new requirements that will be difficult if not impossible to implement, and will result in less education, fewer choices and greater costs to investors which is not in their best interests."

Ms. Bleier's concerns were expressed at the "Focus on Fiduciary" event, which was hosted by the Investment Management Consultants Association. The event took place at the National Press Club in Washington, D.C.

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