ADISA Seeks Comments on Fiduciary Rule Proposal

Jun 12, 2015

 As you know, the recent Fiduciary Rule Proposal by the Department of Labor is of great concern to many in the investment industry. While the intent may be well-meaning, it could result in sweeping changes and many unintended consequences. Knowing there is a wide spectrum of perspectives involved, the ADISA Legislative and Regulatory Committee along with ADISA’s Board of Directors openly solicit your opinion on the issue as we consider our position and a possible comment letter from ADISA to the DOL on its proposal. Both the DOL’s proposed redefinition rule and the BICE (Best Interest Contract Exemption) are below. We are asking for feedback from our members on the DOL Proposal itself, as well as thoughts on the most appropriate way(s) for ADISA to be involved in the process on behalf of its members – to wit, should ADISA submit a comment letter? And if so, what is the message we would seek to communicate to DOL? 
Because of the tight deadline for the comment period, we would need your reaction by Friday, June 19. Please respond to Our appreciation for your involvement as we work on this important issue for the industry.   
Further resources on the proposed rule include the following: