ADISA Signs CRA Support Letter to Encourage Senate to Pass S.J. Res 33

May 23, 2016

ADISA joined other trade associations, representing a broad spectrum of financial services entities, to encourage the U.S. Senate to take up and pass S.J. Res 33, “a joint resolution providing for congressional disapproval under chapter 8 of title 5, United State Code, of the rule submitted by the Department of Labor relating to the definition of the term ‘fiduciary’ and the conflict of interest rule with respect to retirement investment advice.”
Despite extensive efforts to educate the Department, the new 1,023 page DOL rule release fails to account for the many existing laws and regulations already governing the provision of financial advice and services.
ADISA previously co-signed a similar letter to the U.S. House of Representatives in April, encouraging the House to pass H.J. Res 88.
The other trade associations who signed the letter include:

  • Alternative & Direct Investment Securities Association (ADISA)
  • Bond Dealers of America
  • Financial Services Institute
  • Financial Services Roundtable
  • Independent Insurance Agents and Brokers of America (The Big “I”)
  • The Real Estate Roundtable
  • U.S. Chamber of Commerce
Read the letter in its entirety here.