OCC endorses DOL listed options ruling 07 April 2016 Chicago Reporter: Drew Nicol
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The Options Clearing Corporation (OCC) is 鈥済ratified鈥� that the US Department of Labor鈥檚 final fiduciary rule did not limit investors鈥� ability to hold listed options in retirement funds.
The Department of Labor is currently consulting on changes that will expand the types of conduct that will cause a person or entity to be considered a 鈥渇iduciary鈥� under the Employee Retirement Income Security Act and the prohibited transaction provisions of the Internal Revenue Code.
鈥淥CC and the 网爆吃瓜 Markets Coalition are studying the Department of Labor鈥檚 new fiduciary rule as it relates to the use of listed options,鈥� OCC executive chairman Craig Donohue explained.
鈥淲e are concerned that the final rule may limit the ability of brokers to provide education regarding listed options to self-directed investors. Investor education is exactly what is needed in order to promote responsible and prudent use of listed options by investors.鈥�
Online broker TD Ameritrade has joined the coalition and OCC in filing comments.
Donohue added: 鈥淲e will continue to study the rule, and if appropriate, continue to fight aggressively on behalf of investors who use listed options in their retirement accounts. We also thank those members of Congress who supported us through this process.鈥�
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