Dear President Trump:
I am writing because I am deeply concerned about the Department of Labor investment advice rule also known as the “fiduciary rule.” I understand the rule proposal could be issued by DOL at any time and I believe it must be stopped and reconsidered.
The Federation of Americans for Consumer Choice (FACC) is urging insurance agents and agencies around the country to contact elected officials to protest the Department of Labor’s latest iteration of the fiduciary rule.
The Honorable Eugene Scalia
Secretary of Labor
Washington, D.C. 20210
The Honorable Jeanne Klinefelter Wilson
Acting Assistant Secretary of Labor
Dear Mr. Secretary and Ms. Wilson:
I write regarding the “Improving Investment Advice for Workers and Retirees” proposal recently issued by the Department of Labor.
Dear Secretary Scalia and Assistant Director Wilson:
We write today regarding the “Improving Investment Advice for Workers and Retirees” proposal recently issued by the Department of Labor.
We appreciate the Department’s intention to preserve diverse investment advice arrangements as compared to the 2016 Fiduciary Rule proposed by the prior Administration, as well as the Department’s goal of harmonizing industry regulation in order to protect consumers. However, we have heard concerns from Iowans regarding the impact that this proposed rule would have on insurance agents and their clients.
The Federation of Americans for Consumer Choice, FACC, appreciates the opportunity to testify today. Let me say at the outset that we are encouraged to see many other industry trade associations speak to the very real concerns of independent agents and independent insurance distribution.
The Federation of Americans for Consumer Choice (FACC), voicing deep concerns with the Department of Labor’s “Improving Investment Advice for Workers & Retirees” proposal, is urging DOL to reconsider its proposal. FACC submitted written comments to DOL outlining how the proposal will significantly disrupt the fixed insurance marketplace, turn traditional insurance agents into fiduciaries, and create unworkable hurdles for independent distribution.
The Federation of Americans for Consumer Choice (FACC), voicing deep concerns with the Department of Labor’s “Improving Investment Advice for Workers & Retirees” proposal, is urging DOL to reconsider its proposal. FACC submitted written comments to DOL outlining how the proposal will significantly disrupt the fixed insurance marketplace, turn traditional insurance agents into fiduciaries, and create unworkable hurdles for independent distribution.
RE: Improving Investment Advice for Workers & Retirees Proposal
To Whom it May Concern:
The Federation of Americans for Consumer Choice (FACC) wishes to express its deep concerns regarding the above proposal issued by the Employee Benefits Security Administration of the Department of Labor (herein the “Department” or “DOL”).
Draft: 9/17/19 FACC Redline 9/30/2019 NOTE: This mark –up is not meant to be definitive. Rather, it is meant to be illustrative of some, but not all, of our points raised in our comment letter. It is subject to continuing analysis and development. See download for full body of document.
January 2019 TO: Trade Organizations with Members in the Independent Distribution Channel RE: NAIC Best Interest Regulation We the undersigned are Independent Marketing Organizations (IMOs) and many of us belong to trade organizations or work with companies that belong to trade associations. In the past few months we have been
The Federation of Americans for Consumer Choice (FACC)
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