The first wave of public comments on the DOL conflicts-of-interest proposal and related matters are now available online and a public hearing on the controversial matter will be held on August 10, 11, 12 and, if necessary, August 13, 2015, according to an announcement in the Federal Register last week.
The hearing, held by the DOL’s Employee Benefits Security Administration, will start at 9 a.m. EDT on those days in the Cesar E. Chavez Memorial Auditorium at the U.S. Department of Labor, Frances Perkins Building, 200 Constitution Avenue NW, Washington, DC 20210.
The deadline for public comments on the proposed conflicts of interest rule and proposed exemptions from prohibited transactions has been extended to July 21, 2015. Requests to testify must be received by 5 p.m. EDT, July 24, 2015.
Requests to testify at the hearing can be sent by email (to [email protected], subject line: Conflict of Interest Rule Hearing), by mail (Office of Regulations and Interpretations, Employee Benefits Security Administration, Attn: Conflict of Interest Rule Hearing, Room N–5655, U.S. Department of Labor, 200 Constitution Avenue NW, Washington, DC 20210.
A portion of the hearing will focus on the Department’s Regulatory Impact Analysis, which addresses the effects of conflicts of interest in the market for retirement investment advice and the need for regulation, the anticipated economic effects of the proposal, and the relative merits of certain regulatory alternatives.
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