The full Senate Thursday night confirmed, by a 60-38 vote, R. Alexander Acosta to serve as Labor Secretary.
Industry groups urged Acosta to take quick action to further delay Labor’s fiduciary rule.
“We are pleased the Senate has confirmed Alexander Acosta as Secretary of the Department of Labor,” said the Financial Services Institute in a statement. “We urge Secretary Acosta to make addressing the fiduciary rule a top priority.
With the June 9 compliance deadline looming, FSI said, “there is no time to waste in protecting retirement savers’ access to quality, affordable advice and services. We look forward to meeting with Secretary Acosta to address the concerns of our members and the retirement savers they serve.”