• ⇒  First, there has to be a systemic problem before a class-action cause of action can be brought, and I think that we can all agree that if there is a systemic issue in advice that is being provided, we would want to address that. So this is not about individual rights of action. This is about a systemic problem that affects a class.
  • And second, it is extremely difficult to certify a class, extremely difficult and more so in recent years after certain Supreme Court cases have been decided.  (p37) 

--  Cristina Martin Firvida, AARP, Director, Financial Security and Consumer Affairs 

2017 0713 - GOV (House) - Impact of the DOL Fiduciary Rule on the Capital Markets, Bill Huizenga (R-MI)  ---  [BonkNote]