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NAFA Continues Its Efforts on All Fronts to Delay

MESSAGE FROM NAFA

NAFA continues its efforts on all fronts to delay and repeal the Department of Labor fiduciary rule. Most recently our members sent over 2,200 letters to the White House urging President Trump to direct Secretary Acosta to delay the DOL rule.

NAFA has also focused efforts on meeting with key members of the U.S. House and Senate who support our efforts to delay the implementation of the rule on June 9th. Recently, Cliff Andrews, NAFA’s lobbyist with Cap City Advocates, and I had many face-to-face meetings in Washington, D.C. to reinforce NAFA’s position and to let those key members of Congress know how devastating this rule will be for the American consumer and for our industry. Cliff and I also participated in numerous meetings with our sister trade groups to develop a strategy to get our message out. The combined trade groups have run advertisements directed specifically to reach members of Congress, urging them to act and delay the rule.

As you may have seen in recent articles, 124 members of the House signed a letter to the DOL to delay the rule and members of the Senate also signed a similar letter. We have been told that significant pressure from our industry has been put on the DOL and the White House to act immediately to delay and repeal this unworkable rule.

NAFA also continues our fight in the courts, along with the other lawsuits that were filed last year against the DOL. Our lawsuit is currently in the appeal process, with more action on the lawsuit expected this summer.

We urge you to continue the fight against the DOL rule and attend the NAFA Annuity Leadership Forum to meet personally with your representatives on the hill and share your views with them. NAFA makes it easy for you by setting up those appointments during our Hill Walk on June 22nd.

On behalf of the NAFA Board of Directors, thank you for your support of our efforts, and we ask for your continued involvement and financial support.

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Charles R. “Chip” Anderson
Executive Director, NAFA

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