Best interest


Topics: Best interest, Regulation

On April 27th, New York State re-proposed its best interest standard for life insurance and annuity products—the original proposal was issued in December 2017. The linked piece below summarizes the re-proposal, and we will be providing more details in the near future. There are a number of concerning provisions in the re-proposal, and with a…

WRN#18.04.27: SEC Proposes New Regulations for Investment Professionals

Topics: Best interest, Regulation, SEC

Moving more rapidly than was originally anticipated, the Securities and Exchange Commission (SEC) proposed a three-part regulatory package on April 18th, totaling almost 1,000 pages. These proposed changes are aimed at reforming the way that financial professionals serve retail investors, and would apply to producers selling variable annuities and other SEC-regulated securities.


Topics: Best interest, Regulation, SEC

On Wednesday, the Securities and Exchange Commission (SEC) proposed Regulation Best Interest, applicable to brokers and advisors, on a 4-1 vote. The proposal requires broker- dealers to act in the best interest of customers; they cannot put their financial interest ahead of retail customers. The proposal also aims to provide clarity around the fiduciary duties…