Index annuities have been coming under regulatory scrutiny ever since they first hit the market in 1995.  Even more oversight occurred when the NASD, now FINRA, issued Notice to Members 05-50. 

On July 21st, President Obama signed the Financial Reform Bill. This bill included The Harkin Amendment which states that jurisdiction and regulation will remain at the state level through the departments of insurance, not SEC.

While this is a major victory for the fixed insurance industry, it doesn’t mean that all issues are gone.  Just as preparation was important for SEC Rule 151A, it is important for you to prepare for where the industry is going.

THE NEXT BIG ISSUE TO FACE OUR BUSINESSES IS SOMETHING CALLED SOURCE OF FUNDS.

You need to make sure you have a secure foundation in place to prepare for additional changes to our industry.

 

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