Dallas, Texas, February 2, 2022 – Today the Federation of Americans for Consumer Choice (FACC), joined by a number of independent insurance agents and agencies, sued the US Department of Labor challenging its interpretation of who is considered a fiduciary.
Extending the temporary enforcement policy is particularly important so financial services professionals can continue with certainty and confidence to help middle income families prepare for retirement.
FACC is working hard to ensure that the NAIC Model for Best Interest is adopted as drafted by the NAIC so that it is workable for all agents and advisor in ALL states.
FACC submits letter to DOL reinforcing its support for the request being made by financial services industry trade organizations that the Department of Labor (DOL) extend the temporary enforcement policy as provided for in Field Assistance Bulletin (FAB) 2018-02 which is presently scheduled to expire on December 20, 2021. FACC
The Top 10 Frequently Asked Questions about the Secure Act. We are now in Secure Act 2.0, but there is much confusion and misunderstanding about the various provisions relating to annuities. Those haven’t changed in the latest version. FACC answers the most popular questions.
FACC Proposes CRS Concept to NAIC Suitability Working Group Download to read the entire document.
Dear President Trump:
I am writing because I am deeply concerned about the Department of Labor investment advice rule also known as the “fiduciary rule.” I understand the rule proposal could be issued by DOL at any time and I believe it must be stopped and reconsidered.
The Federation of Americans for Consumer Choice (FACC) is urging insurance agents and agencies around the country to contact elected officials to protest the Department of Labor’s latest iteration of the fiduciary rule.
The Honorable Eugene Scalia
Secretary of Labor
Washington, D.C. 20210
The Honorable Jeanne Klinefelter Wilson
Acting Assistant Secretary of Labor
Dear Mr. Secretary and Ms. Wilson:
I write regarding the “Improving Investment Advice for Workers and Retirees” proposal recently issued by the Department of Labor.
Dear Secretary Scalia and Assistant Director Wilson:
We write today regarding the “Improving Investment Advice for Workers and Retirees” proposal recently issued by the Department of Labor.
We appreciate the Department’s intention to preserve diverse investment advice arrangements as compared to the 2016 Fiduciary Rule proposed by the prior Administration, as well as the Department’s goal of harmonizing industry regulation in order to protect consumers. However, we have heard concerns from Iowans regarding the impact that this proposed rule would have on insurance agents and their clients.
The Federation of Americans for Consumer Choice (FACC)
2023 ALL RIGHTS RESERVED.
Any re-publication or distribution without prior written consent is prohibited.
