WASHINGTON, DC - Ways and Means Committee Ranking Member Sander Levin (D-MI) today released the following statement after the U.S. Department of Labor (DOL) released a final rule aimed at ensuring retirement advisors act in the best interests of consumers:
“Retirement plan investing has changed dramatically since the Labor Department first issued rules in 1975 on when investment advice gives rise to fiduciary status. The DOL is issuing these regulations because it is vital to make sure Americans receive advice that is both conflict-free and in their best interest. I look forward to reviewing the final rules with these goals in mind and appreciate that the DOL has taken into account public comments, hearings, and hundreds of stakeholder meetings in drafting these final regulations."
