But Maybe We Shouldn't Hold Our Breath
Wow! The NAIFA Blog has even more influence than we realized. Just a few days after our post on the rising tide of regulation and how it’s affecting advisors, President Obama admitted in a Wall Street Journal op-ed that overregulation places “unreasonable burdens on business” and ordered a federal review of regulations to ensure that they actually protect the public and don’t harm the economy. Coincidence?
Well, yes, probably. But still, NAIFA applauds the president on his change in tone on the regulatory front and for pledging to “do more to account for—and reduce—the burdens regulations may place on small businesses” while getting “rid of absurd and unnecessary paperwork requirements that waste time and money.”
The words sound good, but actions matter. And many people are understandably skeptical that the federal government’s regulatory machine will be able to reign itself in. We're not so naive as to expect the president to come out against his own health care overhaul or financial reform any time soon (and the Journal reports it won't happen), but it would be nice to see action that really does reduce the regulatory burdens endured by small business owners, including insurance and financial advisors.