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Comments Regarding ZRIN: 1210-ZA25 (the "BIC Exemption Proposal") and RIN: 1210-AB32 (the "Fiduciary Proposal")

On behalf of the U.S. Securities Market Coalition, OCC submitted this letter addressing two related proposals issued by the U.S. Department of Labor: the "Fiduciary Proposal" and the "BIC Exemption Proposal." OCC and the Coalition said these proposals would take away the current ability of investors to use exchange-traded or listed options in IRA accounts. The letter noted that almost 25 percent of volume (and perhaps even more) on U.S. options exchanges is attributable to individual investors; that IRA account owners are increasingly using listed options in their accounts with the ultimate goal of increasing their retirement savings, and; approximately 15 percent of individual investor volume currently comes from IRA accounts. OCC and the Coalition offered recommendations to the DOL proposals.

This web site discusses exchange-traded options issued by The Options Clearing Corporation. No statement in this web site is to be construed as an endorsement, recommendation or solicitation to purchase or sell a security, or to provide investment advice. Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of the disclosure document, Characteristics and Risks of Standardized Options. Individuals should not enter into option transactions until they have read and understood this document. To obtain copies, contact your broker, any exchange on which options are traded, or The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606 ([email protected]).