Library

WARNING: DOL HAS NOT YET ISSUED A DELAY!

The FACC Campaign is concerned many agents and distributors are not aware of THREE VITAL FACTS:  1. DOL HAS NOT YET ISSUED A DELAY – the Office of Management & Budget approved the proposed delay in record time but we have heard nothing formally from DOL as of today.  2.

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Our Press Release: Group Forms TO PROTECT FIXED ANNUITIES – Focused on Preserving Consumer Choice

The newly formed group, the Fixed Annuity Consumer Choice Campaign, or FACC Campaign, is led by Dwight Carter, President of Financial Security Associates and chairman of the new organization, and Kim O’Brien, a well-known annuity advocate.
Its primary emphasis is pushing for permanent placement of fixed indexed annuities under the 84-24 Exemption with other fixed annuities.

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Sign Our Petition to Fix the Treatment of FIAs

Please sign a letter of petition to Department of Labor Secretary Alexander Acosta urging him to delay implementation of the Fiduciary Rule exemptions. Join our campaign to extend the transition period to July 1, 2019 and fix the treatment of fixed indexed annuities.

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Round and Round We Go (Where We Stop Nobody Knows)

It’s been another interesting week with the usual mix of the good, the bad, and the uncertain. In any case, we appreciate your continuing interest! FACC’s goal for this blog is to provide you with reliable updates and correct a lot of misinformation that seems to be floating around in our industry.

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The silence at the Department of Labor is LOUD

nothing. But, don’t think the silence means that victory is upon us – IT IS NOT!
The news of the delay is a hopeful sign. However, the lack of information and continued deafening silence creates more uncertainty and confusion. As we blogged last week, there are many possible interpretations of what this means:

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The Rumors of the DOL Rule’s Death are Highly Exaggerated!

The Rumors of the DOL Rule’s Death are Highly Exaggerated! The shot heard across the nation last Wednesday was the sound of a DOL proposal to delay further implementation of the fiduciary-rule exemptions until July 2019.  The Department’s proposal to extend the Jan. 1 effective date for the remaining portions of the exemptions was first disclosed in documents released Wednesday in a court challenge Thrivent Financial for Lutherans v. Perez.

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