Washington, D.C.— American Council of Life Insurers (ACLI) President and CEO David Chavern said the following about the Department of Labor’s investment advice rule:

"Today’s swift and sure action by the Department of Labor protects consumers and their access to information about financial protection. ACLI applauds the strong leadership of Secretary DeRemer, Deputy Secretary Sonderling, and EBSA Assistant Secretary Aronowitz to make a positive difference for Americans working to build greater financial certainty through retirement."

See the Department of Labor’s press release here.

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 275 member companies represent 94 percent of industry assets in the United States.