Advisor/Producer Standard of Conduct

New York State Releases Final Best Interest Regulation

Topics: Advisor/Producer Standard of Conduct, Best interest, Regulation

Yesterday afternoon, the New York Department of Financial Services issued a final best interest rule. As expected, the final rule applies to both life insurance and annuity products, including in-force life insurance policies. While there were positive changes to the rule—for example, it limits the scope on in-force policies to transactions generating new sales compensation—it…

New York State Best Interest Re-Proposal for Annuity and Life Insurance Products – Second Comment Period Closes

Topics: Advisor/Producer Standard of Conduct, Best interest, Regulation

New York State Best Interest Re-Proposal for Annuity and Life Insurance Products – Second Comment Period Closes Thursday, 21 June 2018 WRN 18.06.21 On April 27, the New York Department of Financial Services (DFS) re-proposed its best interest standard for life insurance and annuity products. The deadline for comments was June 15, and AALU…