In a letter to the Department of Labor, CFA expressed strong opposition to the proposed extension of the transition period for the conflict of interest (or “fiduciary”) rule and its related exemptions. Extending this transition period will mean that the full protections and benefits of the fiduciary rule won’t be realized and retirement savers, particularly IRA investors, will continue to suffer the harmful consequences of conflicted advice. The Department has not provided an adequate factual or legal basis for this proposal, nor is the proposal consistent with the Department’s previous analysis and findings in promulgating the rule and its related exemptions.

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