American Council of Life Insurers (ACLI) President and CEO Governor Dirk Kempthorne submitted a statement today to a U.S. House panel in support of a common-sense alternative to the U.S. Department of Labor’s proposed fiduciary regulation:
Washington, D.C. (March 16, 2016) — “The Administration should take a common-sense and fair approach and follow Congress’ lead in publishing a practical rule. Changes are sorely needed to avoid leaving low- and middle-income Americans without the education and the advice they want and need.
“On December 18, 2015, Chairman Roe joined with Representatives Neal, Roskam, Lujan Grisham, Carter, and Larson to introduce legislation to ensure financial professionals work in their clients’ best interests. ACLI supports these bills and looks forward to working with Members of Congress to pass a unified bill that would lead to a practical rule.”
