NAIFA President to speak at House panel's fiduciary-standard hearing

NAIFA President Juli McNeely is one of five speakers scheduled for a Sept. 10 House Financial Services Committee hearing on the Department of Labor's proposed fiduciary standard.

McNeely told InsuranceNewsNet that the Committee "wanted us to cover some very specific things, like how will this impact consumers directly ... what are the problem areas and what should be changed." 

The hearing also will cover the Retail Investor Protection Act, expected to be re-introduced by Rep. Ann Wagner (R-Mo.). If enacted, H.R. 1090 would stay the DOL fiduciary duty rulemaking process until the Securities and Exchange Commission has reported to Congress regarding whether the imposition of new duties and obligations is advisable and until the SEC has had the opportunity to issue any such rules if it concludes that it is advisable. 

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