Archives for Department of Labor

Letter to the DOL requesting an extension of the fiduciary rule applicability date (9/26/16)

Date: September 26, 2016

Issue: Fiduciary Duty

To: The Department of Labor

Filing Type: Request for extension

Description: Most U.S. Chamber members sponsor retirement plans for their employees, and therefore have a fiduciary obligation to ensure that their plans are functioning properly for their participants and beneficiaries. Based on conversations with our diverse membership, we are requesting an extension of the applicability date of the fiduciary regulation because the current 12 month applicability date is simply too short, and will result in significant disruptions to our members’ plans.

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Letter to DOL and the Economic Council on Fiduciary Duty (2/5/2015)

Date: February 5, 2015

Issue: Fiduciary Duty

To: Department of Labor and The White House's Economic Council

Filing Type: Regulatory

Description: The Chamber believes that regulation of our financial markets is most effective when it both enables ample well-disclosed choices for investors and ensures adequate investor protections. This is particularly true of retirement savings. We strongly believe no approach by DOL will successfully achieve both of these goals unless it is considered in the context of the broader regulatory and enforcement regimes impacting these services.

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