by Kim O'Brien | Feb 13, 2020 | Uncategorized
Oppose any best interest standard that would be essentially a fiduciary-like duty and invite runaway litigation; Protect independent agencies and producers who choose not to hold securities licenses; Define workable and objective requirements for both compliance and...
by Kim O'Brien | Feb 13, 2020 | Uncategorized
Care: An agent must exercise reasonable diligence, care, and skill to know the client’s situation, understand available options, and recommend options that effectively address the client’s situation, needs, and objectives. Disclosure: An agent must disclose scope and...
by Kim O'Brien | Dec 11, 2019 | Uncategorized
112619F_FACC Comment Letter with Proposed Clarifications The Fixed Annuity Consumer Choice Campaign has been working hard to improve the NAIC best interest proposal for the benefit of independent agents. We have advocated changes to make the rule more objective in...
by Kim O'Brien | Aug 14, 2019 | Uncategorized
Comment Submitted July 31, 2019: As you know by our comments, we support the standard put forward by Iowa in Section 6 A (1) (d), or something similar, because it provides a benchmark for determining what is meant by so many other undefined and open-ended terms like...
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