The Investment Company Institute is encouraging Congress to consider additions to pending 401(k) reform bills that would allow more people to get advice about their investments.

ICI president Matthew Fink said in a statement released today that lawmakers in Washington should combine two pieces of legislation that were approved by the House and are now pending in the Senate. The Senate is likely to consider both the Trust Equity Guarantee Act and the Protecting America’s Pensions Act in the fall. Both bills are intended to address the financial reporting scandals, such as those involving Enron and Worldcom, that have plagued Wall Street this year.

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