NAIFA Blog

NAIFA congratulates SEC Chairman Jay Clayton

May 2, 2017

Statement from NAIFA President Paul Dougherty: "I am happy to offer congratulations on behalf of the National Association of Insurance and Financial Advisors to Securities and Exchange Commission Chairman Jay Clayton upon his confirmation by the U.S. Senate,” said NAIFA President Paul Dougherty. “NAIFA looks forward to working with Chairman Clayton and the entire Commission to ensure that regulations affecting advisors and the financial services industry provide adequate investor protecti...

NAIFA Take 3 Video: Upcoming Senate Vote on Exemption for State-Run Retirement Plans

May 1, 2017

The Senate later this week is likely to consider H.J. Res. 66 , a bill that would prevent the Department of Labor from exempting state-run retirement plans from worker protections under the Employee Retirement Income Security Act (ERISA). These protections apply to private market plans, and there is no compelling reason they should not equally apply to retirement plans offered by state governments.    A new NAIFA Take 3 video provides an overview of this important issue.   In it, NAI...

NAIFA Issues Statement on Labor Secretary Alexander Acosta

April 28, 2017

NAIFA President Paul Dougherty released the following statement on the Senate’s vote to confirm Alexander Acosta as the Secretary of Labor:   I would like to offer congratulations to Alexander Acosta on behalf of the National Association of Insurance and Financial Advisors. NAIFA looks forward to working with the Secretary of Labor to ensure that DOL regulations are effective and do not harm the very consumers they are meant to protect.   NAIFA has already submitted data and analysis...

NAIFA Survey Gauges Impacts of DOL Fiduciary Rule

April 17, 2017

A new survey of 1,093 NAIFA members has found that the Department of Labor’s fiduciary rule is already hampering advisors’ ability to serve clients and is likely to increase consumer costs.   Nearly 46 percent of the advisors in the survey said they have already experienced restrictions in the types of products they can offer their retirement plan clients, and an additional 44 percent expect such restrictions. Twenty percent have had to increase their clients’ minimum account balances s...

NAIFA CEO Tells InvestmentNews "What's Next for the Fiduciary Rule"

April 12, 2017

NAIFA CEO Kevin Mayeux recently participated in an InvestmentNews Regulatory Roundtable. As part of the event, he recorded a video, "What's Next for the Fiduciary Rule?" He told InvestmentNews that the Department of Labor is reviewing its fiduciary rule, and it seems likely that problems with the rule uncovered by the review will lead to "substantive change." "There will be some sort of regulation put in place that says basically that everyone should act in the best interests of the...