Government watch 2014 financial security and consumer affairs archive

GOVERNMENT WATCH ARCHIVE LEGEND L = LETTER          C = COMMENT         S = statement for the record Government Watch  main page The following documents related to consumer affairs and the

financial security of people 50-plus are presented in reverse chronological order. July L:  On July 20, 2015 AARP filed comments with the U.S. Department of Labor concerning the proposed

Conflict of Interest rule, supporting the protection of over 82 million households who are counting on employer-sponsored plans, Individual Retirement Accounts (IRAs), or both, for their

retirement security.  In order to better ensure these families will have adequate income in retirement, investors need to know that the retirement advice provided by financial service

professionals is in their sole interests.. (PDF) L:  On July 20, AARP filed comments with the U.S. Department of Labor concerning the Best Interest Exemption.  The proposed exemption would

provide conditional relief for financial entities that are fiduciaries by reason of the provision of investment advice to receive compensation when participants and beneficiaries, IRA

owners, and small plans purchase, hold or sell investment products in accordance with the fiduciaries’ advice.  The Department proposed this exemption in connection with the publication of

its proposed regulation under ERISA section 3(21)(A)(ii), which defines who is a fiduciary of an employee benefit plan as a result of the provision of investment advice to a plan or its

participants or beneficiaries. (PDF)