Posts Tagged ‘congress’

Posts Tagged ‘congress’

Modernizing financial regulatory systems is one of the most important steps the Trump Administration can take to promote economic growth, opportunity and investment, the Financial Services Roundtable (FSR) said in reaction to an executive order the Administration released today.

FSR today called on the presidential candidates to detail their plans on how they will increase transparency, modernize, and better coordinate the financial regulatory process.

FSR, along with eight trade associations (Associations), filed a legal challenge on June 1 to the Department of Labor’s Final Fiduciary Rule (Rule) and related prohibited transaction exemptions (PTEs). In the lawsuit, the Associations allege the “Rule and PTEs overstep the Department’s authority, create unwarranted burdens and liabilities, would undermine the interests of retirement savers, and are contrary to law.”

FSR today joined a broad spectrum of financial services trade associations urging the U.S. House of Representatives to use its authority and disapprove of the Department of Labor’s (DoL) recently released fiduciary rule that could impact the ability of many Americans to save for retirement.