ACLI Comments on White House Announcement on Fiduciary Regulation

WASHINGTON, Feb. 6 -- The American Council of Life Insurers issued the following statement by President and CEO Dirk Kempthorne on the White House announcement on fiduciary regulation:

"The American Council of Life Insurers (ACLI) is pleased with the White House announcement calling for the Department of Labor to review the fiduciary regulation.

"It is urgent the Department of Labor grant a delay in the application of the regulation, given the significant and harmful impact of the regulation on the ability of Americans to save for a financially secure retirement.

"Life insurers are proud to act in the best interest of consumers. We look forward to working with the administration and Congress on public policies that support efforts to that end."

The American Council of Life Insurers (ACLI) is a Washington, D.C.-based trade association with approximately 290 member companies operating in the United States and abroad. ACLI advocates in state, federal, and international forums for public policy that supports the industry marketplace and the 75 million American families that rely on life insurers' products for financial and retirement security. ACLI members offer life insurance, annuities, retirement plans, long-term care and disability income insurance, and reinsurance, representing 94 percent of industry assets, 93 percent of life insurance premiums, and 97 percent of annuity considerations in the United States. Learn more at www.acli.com.

[Category: Insurance]

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