Dynamic House freshman Rep. Ann Wagner (R-MO) has agreed to speak at NAPA’s inaugural DC Fly-in Forum Sept. 17-18 in Washington. Wagner sponsored the Retail Protection Act that, should it become law, would delay the rule making process currently underway at the Department of Labor on the definition of a fiduciary.
NAPA’s DC Fly-in is the first opportunity for elite plan advisors to lobby Congress and meet with congressional and regulatory leaders in an intimate roundtable setting to discuss critical issues with fellow Fly-in Delegates.
Registration was opened July 9 to NAPA advisor members who qualify. As expected, demand is high – just 15 of the 150 Delegate seat are still open. We urge you to register here if you are interested and you meet the criteria for Delegates:
• $100M+ in retirement plan assets
• 10+ retirement plans
• 2,000+ plan participants
• 25%+ of overall financial services business in retirement plans
• 5+ years of experience servicing retirement plans
• NAPA member — Principals only
Rep. Wagner’s Retail Investor Protection Act, (H.R. 2374) which was approved by the House Committee on Financial Services Committee by a 44-13 vote on June 19, prevents the Secretary of Labor from prescribing any regulation under ERISA defining the circumstances under which an individual is considered a fiduciary until 60 days after the Securities and Exchange Commission issues a final rule relating to standards of conduct for brokers-dealers under Section 913 of the Dodd-Frank Act. That section of Dodd-Frank authorizes the SEC to issue rules to extend the fiduciary standard of conduct applicable to investment advisors to broker-dealers when providing advice about securities to retail customers.
