Supporters and opponents began weighing in with their reactions about a minute or so after the Labor Department issued the final version of its retirement advice rule earlier this week.
As shown by the roundup of 18 statements in response to the "retirement security rule" below, the groups praising the regulation include the AARP, the CFP Board, the National Association of Personal Financial Advisors and the Consumer Federation of America, while the ranks of those against it comprise the Insured Retirement Institute, the Securities Industry and Financial Markets Association, the National Association of Insurance Commissioners and other groups. The latter commenters will almost certainly file a lawsuit challenging the rule in court and push for Congress to use its power to block the regulation over the next two months.