Date: April 26, 2010
Subject: ACT NOW: Oppose Senate Floor Amendment to Impose  a Fiduciary Standard on Registered Reps

URGENT - YOUR IMMEDIATE ACTION REQUIRED

NAIFA members NEED to take action TODAY

On Monday the U.S. Senate will move to proceed to floor debate on the Restoring American Financial Stability Act of 2010, S.3217.  The bill, which is aimed at reforming Wall Street, could also have serious implications for main street financial services professionals such as you.

Senators Robert Menendez (D-NJ) and Daniel Akaka (D-HI) are planning to offer an amendment on the Senate floor that would establish a liability-ridden fiduciary standard of care for all broker-dealers and registered representatives who provide a scintilla of advice in connection with the sale of a financial product. The Menendez-Akaka amendment assumes the suitability standards current governing broker-dealers and their reps is a weak standard. The assumption is based on incorrect or overstated information being circulated by fiduciary proponents. Click here to see what they are saying about you.

You work far too hard everyday to meet your clients', your employees', and your families' needs while struggling with overwhelming compliance requirements for the various licenses and registrations you hold. Don't let your opponents have the last word and portray you as a someone seeking to dupe your clients and not act in their best interest.

Oppose the Menendez-Akaka amendment today. Send a pre-written letter to your Senator. If you have additional time, please take a moment to personalize your letter before sending it.

Urge your friends and colleagues to make their voices heard. Remember to complete the Tell-a-Friend feature after you email your lawmaker!