The Washington Free Beacon discusses the confirmation of Alexander Acosta as Labor Secretary with John Berlau.
Conservative legal experts urged Acosta to act quickly to roll back other policies adopted by Perez. John Berlau, a senior fellow at the pro-free market Competitive Enterprise Institute, said Acosta should quickly roll back the Fiduciary Rule set to go into effect on June 9. The rule, adopted by the Labor Department in 2016, would allow regulators to oversee investment advisers working on retirement accounts.
“The DOL clearly went beyond its authority from Congress by regulating the entire retirement system of 401(k)s and individual retirement accounts,” Berlau said in a statement. “President Trump has already ordered a review of the fiduciary rule, but Secretary Acosta should make sure this review is thorough and complete before the rule takes effect, so middle class savers do not suffer unnecessarily.”
Read the full article at The Washington Free Beacon.