Tracking NARAB II and why it matters: Opinion
July 1, 2014 by Ed McCarthy, CFP
The House Financial Services Committee recently approved an amendment adding the National Association of Registered Agents and Brokers Act (NARAB II) to the TRIA Reform Act of 2014 (H.R. 4871).
In a press release issued by the Washington, D.C.-based Insured Retirement Institute (IRI; http://www.irionline.org), IRI president and CEO Cathy Weatherford states, “NARAB II would remove a regulatory barrier that impedes broker-dealers’ ability and financial advisors’ willingness to sell lifetime income products. At the same time, this commonsense legislation maintains important consumer protections and preserves each state’s authority to regulate the insurance marketplace. Securing passage of NARAB II remains one of IRI’s top legislative priorities, and we will continue to work with congressional leaders to achieve this goal.”
