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FACC Comment Letter (FAQ)

May 11, 2022 The Honorable Doug Ommen, ChairmanNAIC Annuity Suitability Working Group 1100 Walnut Street, Suite 1500Kansas City, MO 64106 Submitted via email to Jolie Matthews:  jmatthews@naic.org RE:   Suitability in Annuity Transactions Model Regulation (#275) – Frequently Asked Questions (FAQs) Dear Commissioner Ommen: Thank you for the opportunity to comment on next steps relative to the

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FACC Letter Regarding May Lawsuit (May 2022)

Dear Friends, We wish to keep friends and colleagues advised of developments in our case as we had with our letter back in February – in which we explained the timing and rationale for our action against the U.S. Department of Labor – challenging its reinterpretation of the five-part test and withdrawal of the Deseret Letter all of which improperly expands the reach of ERISA and fiduciary requirements.

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FACC Lawsuit Talking Points

Please open the link below to read a letter prepared by FACC regarding our DOL lawsuit. We hope the letter provides industry colleagues with some insights about our legal action which we see as a critical component of industry efforts addressing DOL developments. The letter – among other things –

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FACC Supports Temporary Enforcement Policy Extension

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

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The Secure Act FAQ

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.

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White House Letter

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. 

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