InvestmentNews (11/05/15) Schoeff, Mark – A bipartisan group of House members is working on a bill that would offer an alternative to a pending Department of Labor (DOL) proposal to raise investment advice standards for retirement accounts. The lawmakers released what they called “legislative principles” Thursday that will be reflected in the measure. The principles include requiring advisers to work in their clients’ best interests; providing “clear, simple and relevant disclosure of material conflicts,” including compensation and fees; and preserving proprietary products, commission-based sales and annuities. The authors of the bill — Reps. Peter Roskam (R-Ill.), Richard Neal (D-Mass.), Phil Roe (R-Tenn.), and Michelle Lujan Grisham (D-N.M.) — said they are concerned the DOL rule, which is designed to reduce advisers’ conflicts of interest, would have “unintended negative consequences” for people with modest assets. It’s not clear when the bill will be introduced or whether it will require the DOL to halt the rule.