On April 8, 2014, the Wyoming Department of Insurance announced the adoption of Chapter 64, the Regulation Governing Suitability in Annuity Transactions. This regulation closely tracks the NAIC Suitability in Annuity Transactions Model Regulation as revised in 2010. Chapter 64 was filed on March 26, 2014 by the Wyoming Secretary of State’s Office, and pursuant to the new regulation, will be effective six months from the filing date, on September 26, 2014. Insurance producers who hold a Wyoming life insurance license as of that date will have an additional six months, until March 26, 2015, to complete the one-time, 4-hour suitability training course (CE) required by Chapter 64. NAFA submitted a comment letter to the WY DOI in August 2013 supporting the adoption of Chapter 64 and appreciates the assistance and service by the Department in the adoption of this regulation.

Wyoming becomes the 34^th State (including the District of Columbia) to adopt, in whole or in part, the 2010 NAIC Suitability in Annuity Transactions Model Regulation.