Sarbanes Statement on Circuit Court of Appeals Decision to Strike Down DOL Fiduciary Rule

March 16, 2018
CONTACT: Natalie Young | |
(202) 225-4016  

WASHINGTON, D.C. – Congressman John Sarbanes (D-Md.) issued the below statement today after the Fifth Circuit Court of Appeals voided the Department of Labor's fiduciary rule:

“This decision is a significant setback for current retirees and hardworking Americans saving for retirement. The fiduciary rule is a key pillar of consumer protection that ensures financial advisors act in the best interest of their clients. Despite this setback, we must continue fighting for common sense safeguards that protect Americans’ savings and help millions of workers secure a happy and healthy retirement.”