SEC Chairman Michael Piwowar speaks out about the "terrible, horrible, no-good, very bad" Department of Labor Fiduciary Rule.
I am on a flight on my way back from the 2016 WinOPS User Groups Conference in Denver for a group of BD Operations and Compliance professionals where I was invited to speak on a panel with Industry Titans, John Simmers (former CEO of the ING Advisor Network with more than 8,500 registered representatives) and Jane Reilly (President of NSCP) about the current state of DOL and what we should be doing.
Would you ever consider volunteering to be a crash test dummy? Of course not, but the DOL is proposing many people do that with their retirement plans. Brace for impact if this rule goes through, it could cause a lot of damage that is unforeseen and short sighted.