The organizations listed below have expressed concerns regarding significant rulemaking flaws in the regulatory process at the Department of Labor and the Office of Information and Regulatory Affairs associated with the DOL’s proposed “Retirement Security Rule: Definition of an Investment Advice Fiduciary,” RIN 1210-AC02. In light of these flaws, we are asking the organizations to stand up for the integrity of the regulatory process and continue the public input process, rather than finalize the fiduciary rule now.

The letter was signed by the following associations:

Alternative & Direct Investment Securities Association
American Council of Life Insurers
American Securities Association
Committee of Annuity Insurers
Davis & Harman on behalf of the Broker Dealer Coordination Group
Financial Services Institute
Finseca
Indexed Annuity Leadership Council
Insured Retirement Institute
National Association for Fixed Annuities
National Association of Insurance & Financial Advisors

View the letter in its entirety here.