Wednesday, March 16, 2016

ACLI Urges Common-Sense Approach to Fiduciary Regulation

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.”

 

Download Governor Kempthorne’s full statement to the U.S. House Education and Workforce Committee. (PDF)

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The American Council of Life Insurers (ACLI) is a Washington, D.C.-based trade association with approximately 300 member companies operating in the United States and abroad. ACLI advocates in federal, state, and international forums for public policy that supports the industry marketplace and the 75 million American families that rely on life insurers’ products for financial and retirement security. ACLI members offer life insurance, annuities, retirement plans, long-term care and disability income insurance, and reinsurance, representing more than 90 percent of industry assets and premiums. Learn more at www.acli.com.

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The American Council of Life Insurers (ACLI) is the leading trade association driving public policy and advocacy on behalf of the life insurance industry. 90 million American families rely on the life insurance industry for financial protection and retirement security. ACLI’s member companies are dedicated to protecting consumers’ financial wellbeing through life insurance, annuities, retirement plans, long-term care insurance, disability income insurance, reinsurance, and dental, vision and other supplemental benefits. ACLI’s 280 member companies represent 95 percent of industry assets in the United States. Learn more at www.acli.com.


Date Posted: March 16, 2016
Document ID: NR16-012
Contact: Whit Cornman, 202-624-2442