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FACC New Jersey Comment Letter 6-24-24

“FACC welcomes efforts of the Department of Banking and Insurance to adopt the updated National Association of Insurance Commissioners (NAIC) Model Regulation #275 incorporating best interest obligations into existing suitability regulations. Assuming it is the intent of the Department to adopt the NAIC model regulation updates in their entirety, FACC

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FACC Nevada Comment Letter 7-3-24

“FACC overall is pleased with and supports the proposal published on the Department website as Revised Proposed Regulation R109-23. FACC commends the Division for its continuing efforts and general adherence to the updated 2020 NAIC Suitability in Annuity Transactions Model #275. FACC believes adoption of the updated NAIC model regulation

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FACC et al. vs. DOL – DOL Response to FACC Motion for Preliminary Injunction 6-14-2024

Below is the response from DOL, as a defendant, opposing the motion from FACC for a preliminary injunction that would suspend enforcement of the fiduciary rule. Here is an excerpt from the defendants’ filing: “Plaintiffs—insurance professionals and a trade association representing insurance professionals—seek a preliminary injunction and stay of the

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FACC Louisiana Comment Letter 6-10-24

FACC commends the Louisiana Department of Insurance for moving forward in adopting updates to the National Association of Insurance Commissioners (NAIC) Model Regulation #275. The updated regulation incorporates best interest obligations in a manner that is attuned to the unique characteristics of the insurance industry. In particular, we support efforts

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Hispanic Leadership Fund Files Amicus Brief 6-3-24

The Hispanic Leadership Fund (“HLF”) has a strong interest in this case. DOL’s latest rule redefining who is an investment advice fiduciary (“2024 Fiduciary Rule”) is effectively the same as the very harmful 2016 Fiduciary Rule that was invalidated in a 2018 decision by the United States Court of Appeals

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U.S. Chamber of Commerce Files Amicus Brief 5-31-24

The Chamber of Commerce of the United States of America (“Chamber”) is the world’s largest business federation, representing approximately 300,000 direct members and indirectly representing the interests of more than three million businesses and professional organizations of every size, in every industry sector, and from every region of the country.

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FACC Oregon Comment Letter 5-28-2024

While FACC is pleased to see the Division move forward with creating permanent regulations to support SB 536 – designed to establish disclosure and care obligations for annuity sales – FACC stands with other major insurance trade associations in requesting the Oregon Division adhere to the NAIC model regulation and

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