TRP’s Rosenstock Discusses ‘Cromnibus’ Negotiations

Investment News posted an article quoting Thorn Run Partners' Jason Rosenstock.  The online publication, which dives into the investment world, was parsing out industry news from the so-called Cromnibus.  “It's going to be one of those high-level negotiations between the big four House and Senate leadership," said TRP's Jason Rosenstock. Mr. Rosenstock was commenting on riders that could be included in the large appropriations bill to "effectively stop a Department of Labor rule designed to expand the number of financial advisers who must act as fiduciaries to retirement plans, including brokers who sell individual retirement accounts."

“It's going to be one of those high-level negotiations between the big four House and Senate leadership,” said Jason Rosenstock, a partner at Thorn Run Partners consulting firm. He was referring to House Speaker John Boehner, R-Ohio; House Minority Leader Nancy Pelosi, D-Calif.; Senate Majority Leader Harry Reid, D-Nev.; and Senate Minority Leader Mitch McConnell, R-Ky.
 
With many riders on the negotiating table, lobbyists and congressional staff said it was uncertain which one Democrats would agree to include in the so-called omnibus appropriations bill.
 
“No one knows where the line will be drawn,” Mr. Rosenstock said.