Group letter opposing a bill that would prevent stronger fiduciary regulations (June 18, 2013)

Group letter opposing a bill that would prevent stronger fiduciary regulations (June 18, 2013)


The Pension Rights Center — along with AARP, the AFL-CIO, Americans for Financial Reform, the Consumer Federation of America, and Demos — submitted a letter to the U.S. House of Representatives, asking members to oppose H.R. 2374, a bill that would stall efforts by the Department of Labor to ensure that financial advisors act in the best interest of their clients when providing investment advice on retirement plans.

In 2011, the Department of Labor proposed new fiduciary regulations, which were later withdrawn under pressure from the financial services industry. Below are links to PRC statements on those regulations.

  • Norman Stein’s testimony of the Department of Labor’s proposed fiduciary regulations at a hearing held by the Subcommittee on Health, Employment, Labor, and Pensions of the Committee on Education and the Workforce in the U.S. House of Representatives (July 26, 2011)
  • Letter and memo the Pension Rights Center sent to Congress, expressing support for the proposed regulations (July 20, 2011)
  • The Pension Rights Center’s supplemental comments the proposed fiduciary regulations (April 12, 2011)
  • Norman Stein’s testimony a Department of Labor hearing on the proposed regulations (March 1, 2011)
  • A PRC blog entry on the importance of the proposed regulations (February 15, 2011)
  • Joint comments the proposed regulations to the Department of Labor from the Pension Rights Center and the National Employment Lawyers Association (February 3, 2011)

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