Displaying 61 results
OMB draws flak on DOL fiduciary rule decision
Industry groups express disappointment at the Office of Management and Budget's speedy review of the controversial rule.
DOL retirement security rule would be ‘disastrous,’ GOP rep says
Democrats at a House hearing say the retirement rule will ensure workers, retirees and retirement plan sponsors receive advice that is in their best interest.
Next DOL fiduciary proposal under attack prior to release
Even before seeing the text, the insurance industry says the measure to raise advice standard for retirement accounts will hurt middle- and low-income savers.
Kentucky, Mississippi latest states to adopt annuity best interest rule
In a recent speech, SEC Commissioner Allison Herren Lee pointed out how the annuity rule differs from Reg BI on mitigating conflicts of interest.
Three more states adopt annuity suitability rules
Virginia, Maine and Alabama recently adopted rules tracking the model ‘best interest’ measure approved in 2020 by the National Association of Insurance Commissioners.
Wandering financial advisers must be corralled, but who will break them in?
The industry finally has the data about rogue brokers who take refuge in the land of insurance sales, and the picture is pretty ugly.
Ex-SEC commissioner targets rogue brokers turning to insurance sales
Study co-authored by Robert Jackson Jr. shows that 'wandering advisers' who leave one regulator and continue operating under another are more likely to commit misconduct.
States picking up annuity best-interest standard
Recently, Nebraska, Idaho and North Dakota passed rules matching NAIC’s standard, joining other states on the roster: Arkansas, Arizona, Delaware, Iowa, Michigan and Rhode Island.
Insured Retirement Institute wants more worker access to plans, annuities
Annuities are an answer to one of the most vexing worries that Americans face – outliving their money in retirement, IRI leaders said. But a critic countered that the products need to come with more investor protections.
Momentum picks up for state-level best interest rule on annuity sales
Arkansas and Michigan become the latest states to adopt the National Association of Insurance Commissioners model rule
Why living-room lobbying may be here to stay
The pandemic has pushed trade associations to virtual meetings to make their case with lawmakers
State best interest annuity rule begins journey to become law
Two down, 48 states to go for sales rule
State regulators approve best-interest standard for annuity sales
Now individual states must adopt the measure through legislation or rule-making
State insurance commissioners poised to approve annuity sales best interest rule
NAIC leader touts increased protections; consumer advocates say measure falls short
Indexed annuity illustrations are hurting consumers: group
Center for Economic Justice argued in a comment letter to the NAIC that insurers are incentivized to develop indexed annuities with disingenuous product illustrations.
Maryland fiduciary bill killed in committee
Further action appears unlikely with legislature set to adjourn April 8.
NASAA distances itself from state fiduciary efforts, wants Reg BI to succeed
IRI also pushes for SEC rule, and a bill to promote annuities in retirement plans.
Insurance groups tell NAIC to put 'best interest’ back into annuity suitability rule draft
Investor advocate calls insurance proposal weaker than existing broker suitability standard
State insurance commissioners draft annuity sales rule
But consumer advocate says proposal doesn't elevate standard beyond current suitability.
States try to beat back rate increases on long-term-care policies
Rules adopted by 41 states have held down rate increases on newer policies, but some advisers remain skeptical of traditional LTC insurance.
