Would New DOL Fiduciary Rule Curtail Advice Access? No Way, Consumer Groups Testify
December 19, 2023 by Melanie Waddell
The claim by the brokerage and insurance industries that small savers would lose access to advice under the Labor Department’s new fiduciary proposal “is little more than a scare tactic,” Micah Hauptman, director of investor protection for the Consumer Federation of America, told Labor officials.
The federation is among 45 groups, some supporting the proposal and some opposing it, that requested to testify at the two-day online hearing, which started Tuesday and ends Wednesday.
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Originally Posted at Think Advisor on December 13, 2023 by Melanie Waddell.
Categories: Industry Articles