Impose a new set of regulations under the employment Retirement Income security act or erisa on a greatly expanded number of people. Under current law, brokers and dealers that provide services to retirement plans are already heavily regulated. They are not, however, automatically consider labor law fiduciaries and therefore they are not subject to the increased liability provided under erisa. Instead, these Service Providers are subject to regulations issued by the securities and Exchange Commission to protect investors from fraud and ensure transparency. Under the new d. O. L. Rule, virtually any broker that provides Investment Advice of any kind to individuals regarding their individual retirement accounts or iras will be considered a pension plan fiduciary subject to Higher Standards and greater liability. As my colleagues have aptly noted, this rule will reduce the availability of Investment Advice for retirees and make the advice that is available more expensive which will have a
The heads of the washington met met metropoliton authority were having a meeting and taking questions on plans to accelerate maintenance and projects over the next year. Welcome, everybody. Today we will discuss how the washington metro system is going to address the safety and reliability issues. The issue is important to all members because when we have people coming in we want to make sure when they come to see the nations capitol they should be able to move around the region safely and efficiently. The federal government has invested billions in the metro but it is not safe or reliable. The committee is going to be watching to make sure the talk turns into actions. The fta is playing an Important Role at metros temporary oversight entity. The fta is here to share what they will to promote safety and liability. Wmata has to be held accountable to the federal, state and local taxpayers that are funding them. I look forward to a frank discussion. I am yield to Congress Woman comstock.