Tag: best interest regulations

The National Association of Insurance Commissioners sees its new conflict of interest regulations as working in harmony with the Securities and Exchange Commission’s Regulation Best Interest.

The standard-setting and regulatory support organization governed by the chief insurance regulators of all 50 states set today as a deadline for industry comments on the latest draft of a model best-interest suitability standard applying to annuity sales.

Among other things, the National Association of Insurance and Financial Advisors for New York State alleges the Department of Financial Services (DFS) exceeded its permissible executive-branch authority by promulgating Regulation 187 without constitutional or statutory authority.