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FACC Comments on West Virginia Best Interest Proposal

FACC, the Federation of Americans for Consumer Choice, fully supports the efforts of West Virginia to adopt the updated NAIC Model regulation #275. We appreciate that West Virginia has proposed adopting the model regulation in full to enhance consumer protection and promote uniformity.

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FACC Comments on Utah Best Interest Proposal

Thank you for the opportunity to comment on proposed changes to R590-230, Suitability in Annuity Transactions. FACC applauds the Department’s efforts to adopt the updated version of the NAIC Model Regulation to enhance consumer protection and promote uniformity.

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FACC Comment Letter (FAQ)

FACC comments on next steps relative to the published FAQs and proposed FAQs for Training & Safe Harbor.  FACC actively supported the NAIC Working Group’s efforts to develop the existing FAQs and is grateful for the opportunity to have worked with other trade groups and regulators last year in completing

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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

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 – addresses certain misconceptions we have heard from time to time about our action. We hope you

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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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