Washington, DC—Following is a statement from Christine Owens, executive director of the National Employment Law Project, in response to Labor Secretary Alexander Acosta’s announcement in an op-ed in today’s Wall Street Journal that his agency will not further delay the June 9th partial implementation date for the conflict-of-interest rule (or fiduciary rule):
“The Department of Labor has made the right choice in deciding not to further delay this important protection for America’s workers, who increasingly have to plan their own retirement and who, now more than ever, need advice they can trust.
“It is still troubling that the department is not enforcing the rule until January 2018, however. We remain committed to defending the enforcement tools that are crucial to making this rule’s protections a reality for retirement savers.”
