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Apr 28, 2016 Press Release
Rep. Sean Duffy Blasts Obama Administration’s Proposed Fiduciary Rule WASHINGTON, D.C. – U.S. Representative Sean Duffy (WI-07) spoke out against the Obama Administration’s proposed fiduciary rule on the House floor Thursday. The rule, proposed by the Department of Labor, would amend the definition of “fiduciary” under the Employee Retirement Income Security Act (ERISA) of 1974 and the Internal Revenue Code. The proposed rule would expand the definition of the definition of “fiduciary,” which raises concerns that individuals could lose access to trusted financial advisors, raise the cost of receiving advice, and lead to fewer small business offering retirement plans.