NAFA Continues Push for Further Delay of Fiduciary Rule

NAFA

NAFA asserts a number of viable options are available to newly installed Labor Department Secretary Alexander Acosta to delay the rule even though time is growing short. “If there is the will, there is a way,” says Anderson.

NAFA, the National Association for Fixed Annuities, is continuing its full-court press on the Trump administration to further delay the fiduciary rule, which is set for implementation three weeks from now, absent further administrative action. NAFA reports over 2,200 of its members have already written the White House urging President Trump to stop the rule from taking effect on June 9.

“We feel we must take our message straight to the White House so President Trump knows our members are very worried and are counting on him to prevent any part of this onerous rule from taking effect,” said NAFA’s executive director Chip Anderson.

While NAFA’s grassroots efforts are focused on the White House, Anderson indicated NAFA is also talking with members of Congress and at the same time coordinating with industry trade groups through a coalition called Secure Family that is running advertisements in Washington newspapers urging further delay.

“NAFA is pulling out all the stops because it will be a disaster if this rules goes into effect before

the Labor Department has reexamined the rule in its entirety, as mandated by the President’s February 3rd directive,” said Anderson.

NAFA asserts a number of viable options are available to newly installed Labor Department Secretary Alexander Acosta to delay the rule even though time is growing short. “If there is the will, there is a way,” says Anderson.

While other industry trade groups have been rallying around the idea that Secretary…

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