CFA and other organizations that strongly support the Department of Labor’s (DOL) efforts to update and close loopholes in the 40-year-old rules governing retirement account financial advice urge the Senate to reject any amendments to slow down or derail DOL rulemaking that may be offered during the Senate’s consideration of the 2015 budget. An amendment may take the form of defunding or otherwise halting the DOL rulemaking initiative, as with Senator Isakson’s amendment #610, or by requiring the DOL to wait for the Securities and Exchange Commission (SEC) to issue its own regulations governing investment advice.

