Page 12 - SCBJ-201703
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1 Photo from google.com
Chamber Praises
Presidential Action to Reform Dodd-Frank
Act, Delay Fiduciary Rule
Chamber responded to news that President “We are also pleased that President Trump took action
Donald Trump will issue an executive order enacting to halt the harmful impact of the Department of Labor
sweeping reforms to the Dodd-Frank Act and delaying the fiduciary rule, which would have made it more difficult for
Department of Labor (DOL) fiduciary rule: Americans to save for their futures. The flawed fiduciary
rule’s rushed implementation would have jeopardized access
“Today marks the first step towards mending the to retirement advice and choice while its severe consequences
dysfunctional regulation of the past and helping Main Street and compliance burdens would have made it harder for small
with the financing needed for growth and job creation. Last businesses to offer retirement plans.”
year the Chamber recommended over 100 ideas for smart,
forward-looking financial reforms that promote stability and “At the outset, the Department of Labor put forth an
encourage growth. This executive order stops Washington accelerated implementation deadline that was driven by
from picking winners and losers and helps put America’s political motives rather than practical reality. Now, we look
entrepreneurs back to work. We look forward to working forward to swift action from the Department of Labor in
with the administration and Congress in achieving these goals.” putting this delay into effect and reevaluating matters of
10 WA S H I N G TO N
1 Photo from google.com
Chamber Praises
Presidential Action to Reform Dodd-Frank
Act, Delay Fiduciary Rule
Chamber responded to news that President “We are also pleased that President Trump took action
Donald Trump will issue an executive order enacting to halt the harmful impact of the Department of Labor
sweeping reforms to the Dodd-Frank Act and delaying the fiduciary rule, which would have made it more difficult for
Department of Labor (DOL) fiduciary rule: Americans to save for their futures. The flawed fiduciary
rule’s rushed implementation would have jeopardized access
“Today marks the first step towards mending the to retirement advice and choice while its severe consequences
dysfunctional regulation of the past and helping Main Street and compliance burdens would have made it harder for small
with the financing needed for growth and job creation. Last businesses to offer retirement plans.”
year the Chamber recommended over 100 ideas for smart,
forward-looking financial reforms that promote stability and “At the outset, the Department of Labor put forth an
encourage growth. This executive order stops Washington accelerated implementation deadline that was driven by
from picking winners and losers and helps put America’s political motives rather than practical reality. Now, we look
entrepreneurs back to work. We look forward to working forward to swift action from the Department of Labor in
with the administration and Congress in achieving these goals.” putting this delay into effect and reevaluating matters of
10 WA S H I N G TO N
