Groom principal David Kaleda talked with MarketWatch for their article, “Elizabeth Warren urges that ‘corporate wrongdoers’ shouldn’t be managing retirement funds.” The article details a letter written by Senator Elizabeth Warren (D-Mass.) and Senator Tina Smith (D-Minn.) urging the Department of Labor’s (“DOL”) Employee Benefits Security Administration (“EBSA”) to make proposed changes to the qualified professional asset manager (“QPAM”) exemption. In the article, Kaleda weighs in on the impact on asset managers if more stringent restrictions are implemented. “This could impact the asset management business in a way it shouldn’t, by limiting participants,” Kaleda stated. He also added, “I think they went overboard.”
To read the MarketWatch article, click here.
