States may strengthen rules for selling annuities
December 5, 2017 by Mark Schoeff Jr.
State insurance commissioners this weekend will consider a draft proposal to strengthen the rules for selling annuities, an effort to put the marketing of the products more in line with the trend toward heightened investment advice standards.
But a supporter of the Labor Department’s fiduciary rule said the insurance regulators’ initial attempt falls short of the DOL measure’s conflicts-of-interest protections.
A National Association of Insurance Commissioners committee will consider the proposal Dec. 3 at the NAIC meeting in Honolulu.