I believe that it properly balances the need to protect retirement investors with the need to streamline compliance costs.
Michael Capuano
The Public Record
Mike Capuano is a former U.S. Representative from Massachusetts, serving from 1999 to 2019. A member of the Democratic Party, he represented Massachusetts's 8th congressional district. During his tenure, Capuano was known for his advocacy on issues such as healthcare, education, and civil rights. He served on several committees, including the Transportation and Infrastructure Committee, where he focused on infrastructure development and public transportation improvements in his district.
tying the hands of the SEC, being overprescriptive as this discussion draft bill is, is dangerous.
this bill would be devastating to low-income, to middle-income, to senior citizens.
The fiduciary rule is a much-needed update of the rules governing investment advice to retirement savers.
According to the Council of Economic Advisers, this rule will save consumers roughly $17 billion--that is 'billion'--per year.
The Labor Department concluded that it could not justify delaying the start date for very long.
I wrote my own letter to the DOL on the proposed rule asking for six technical fixes and clarifications, and DOL made all six changes that I asked for in the final rule.
this new bill creates an entirely new standard that isn't a fiduciary standard or a suitability standard.
I oppose Mrs. Wagner's bill. I think it strips Americans of a basic protection that they need for their retirement.
I am a supporter of the rule because it provides critical protections to Americans who are saving for retirement.
If you are giving investment advice to our retirement savers and you are being compensated for your advice, then you have to put your customers' interests first.





