Through its proposed “fiduciary standard,” the Department of Labor is calling for additional consumer protections for retirement savers. The spirit of the proposed rule guides financial advisers to put client interests first. Critics, however, fear that such a move my unintentionally harm the very savers it aims to help.
What is the best way to ensure transparent, accurate, and timely disclosure of the fees? Is a “fiduciary standard” the right approach? What improvements can be offered? How could policymakers best protect the interest of retirement plan sponsors while ensuring that retirement savers have access to sound advice?
The Bipartisan Policy Center hosted a discussion to hear from leading voices on all sides of this debate.
Follow the discussion on Twitter: @BPC_Bipartisan #BPClive
Keynote address by:
Director, National Economic Council
View remarks as prepared for delivery
Panel discussion with:
MDLA Distinguished Lecturer and Professor, University of Mississippi School of Law
Pamela D. Everhart
Senior Vice President of Government Relations, Fidelity Investments
Former Senior Policy Advisor, National Economic Council
Financial Services Counsel, Consumer Federation of America
Vice President & Senior Counsel for Regulatory Affairs, Financial Services Roundtable
W. Mark Smith
Partner, Sutherland Asbill & Brennan LLP
Retired Chief Financial Correspondent,
The New York Times
Concluding remarks by:
President and CEO, Securities Industry and Financial Markets Association