DOL Delay Loosens Vise On Annuities
November 7, 2017 by Cyril Tuohy
An 18-month delay in implementing key parts of the Department of Labor (DOL) fiduciary rule has eased its vise-like grip on insurers and annuity distributors, insurance company executives told analysts.
Abating regulatory pressure around annuity transactions also should give life insurers and distributors more time to shape a rule in a manner that will help retirement savers, the executives said during third quarter earnings conference calls.
“I think this pause plus the distance from June 9 is beginning to ease the impact of the DOL from a sales standpoint,” said Dennis R. Glass, president and CEO of Lincoln Financial.
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