Labor Secretary Acosta: Concerns with DOL fiduciary rule ‘not heard’ during original rulemaking
June 8, 2017 by Greg Iacurci
Secretary of Labor Alexander Acosta hinted Wednesday that the Obama administration didn’t adequately consider “concerns” raised during the rulemaking process surrounding the Department of Labor’s fiduciary rule.
Mr. Acosta made the remark during congressional testimony, after Rep. Steve Womack (R-Arkansas) asked: “Is it not obvious that [the fiduciary rule] is going to limit [investors’] options? Does it have some far-reaching effects that would be counterproductive to particularly younger generations’ savings opportunities?”
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