News

Chairman Hensarling Reacts to Decision on Fiduciary Rule

Washington, May 23, 2017 -
House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement regarding today’s decision by the Department of Labor on the controversial fiduciary rule:
“I was there in the Oval Office when President Trump signed his Presidential Memorandum on the Obama administration’s fiduciary rule. I don’t see how the Department of [...]

Roe Statement on the Implementation of the Fiduciary Rule

WASHINGTON, D.C. – Today, Rep. Phil Roe, M.D. (R-TN) released the following statement in response to Labor Secretary Alexander Acosta’s decision to allow the fiduciary rule to partially take effect June 9, 2017:
“The misguided, Obama-era fiduciary rule drives up the cost of investment advice for low- and middle-income investors and makes it harder, not easier, for [...]

NAFA APPLAUDS CONGRESSIONAL PRESSURE TO DELAY FIDUCIARY RULE IMPLEMENTATION

Washington, D.C., May 8, 2017 – NAFA, the National Association for Fixed Annuities, released the following statement today from its Executive Director Chip Anderson:
“NAFA expresses its gratitude to those members of Congress who have signed letters calling for delay of the June 9th implementation of the DOL fiduciary rule.  In separate letters, key members of the [...]

Alexander Acosta Appointed Secretary of the Department of Labor

Washington, D.C., April 28, 2017 – NAFA, the National Association for Fixed Annuities, released the following statement from Chip Anderson, NAFA’s Executive Director, on the confirmation of Alexander Acosta as the Secretary of the Department of Labor.
“NAFA, extends its congratulations to Alexander Acosta on his confirmation as Secretary of the Department of Labor. We look forward [...]

Act Now! Tell the President to Repeal the DOL Rule!

The DOL fiduciary rule will take effect in just four weeks – on June 9, 2017 – unless President Trump acts to stop this ill-conceived rule that will hurt our industry and our clients.  Over 3000 of you have already written President Trump!  But we need many more of you to get letters into the White [...]

NAFA submitted a letter to the Department of Labor

April 17, 2017- In a letter submitted to the Department of Labor, NAFA, the National Association for Fixed Annuities is urging a further delay of the fiduciary duty rule beyond its current June 9 partial applicability date, while the Department completes its comprehensive examination of the rule as directed by President Trump in his February 3rd White [...]

NAFA has submitted a comment letter to the DOL regarding the proposed 60-day delay of the fiduciary rule’s applicability date

March 14, 2017- NAFA has submitted a comment letter to the DOL regarding the proposed 60-day delay of the fiduciary rule’s applicability date. As the comment letter makes clear, NAFA strongly supports a proposed delay to give the DOL time to review significant questions of law and policy raised by the rule and in support of [...]

NAFA files a comment letter in general opposition to the Department’s Proposed Best Interest Contract Exemption for Insurance Intermediaries

February 17, 2017 – NAFA files a comment letter in general opposition to the Department’s Proposed Best Interest Contract Exemption for Insurance Intermediaries. Recognizing that the Proposed Exemption would have devastating effects on IMOs – particularly on small and mid-size organizations, many of which are NAFA members – NAFA’s comment letter addressed, in particular, the arbitrary and [...]

NAFA Files Emergency Motion for Injunction in Continued Fight to Stay DOL Rule

 
WASHINGTON (Dec. 1, 2016) — NAFA, the National Association for Fixed Annuities, announced Tuesday that it has filed an emergency motion for an injunction pending appeal with the U.S. Court of Appeals for the District of Columbia Circuit. The appeal is from an order and memorandum opinion of the federal district court issued Nov. 4 [...]

NAFA to Appeal Court Decision on DOL Fiduciary Rule

NAFA Will Seek Expedited Review 
WASHINGTON (November 7, 2016) — The National Association for Fixed Annuities (“NAFA”) announced today, following a federal district court decision upholding the Department of Labor’s fiduciary rule, that it will appeal to the D.C. Circuit Court of Appeals.
“We are obviously disappointed by the court’s decision, but we have always assumed this [...]