Senate Confirms SEC Nominations

Senate Confirms SEC Nominees

IRI Congratulates Hester Peirce & Robert Jackson

WASHINGTON, D.C. – The Insured Retirement Institute (IRI) released the following statement from IRI Senior Vice President and General Counsel Lee Covington in response to the Senate’s confirmation of Hester Peirce and Robert Jackson as Commissioners at the Securities and Exchange Commission (SEC).

“The Insured Retirement Institute congratulates Hester Peirce and Robert Jackson on their confirmation to serve at the SEC. IRI looks forward to working with the newly confirmed Commissioners along with Chairman Clayton and Commissioners Stein and Piwowar on ways to help protect America’s investors and encourage their saving for retirement.

Now, with a fully constituted Commission, we have an opportunity to develop and put into place a clear, consistent best interest standard for financial professionals which preserves access to affordable financial advice and a variety of lifetime income products.  We also are looking forward to continuing to work with the Commission to expeditiously adopt a variable annuity summary prospectus which would improve consumers’ understanding of their investment choices and reduce regulatory burdens through streamlined disclosures that facilitate better decision making regarding investor’s lifetime income options.”