Compliance in U.S. Department of Labor world: Much ado about nothing?: Opinion
April 6, 2016 by John Sarich
With the Department of Labor’s finalized amendment regarding the regulations on fiduciary responsibility for retirement products — including annuities,life insurance and other life products — it’s timely to take a look at the compliance implications for carriers, distributors, agents and advisors.
Over the past 18 months, the retirement industry has been attempting to gain a complete understanding of the U.S. Department of Labor’s foray into regulating the sale of insurance products. The major trade association that works with the retirement industry is the Securities Industry and Financial Markets Association (SIFMA), which has been instrumental in working with the industry to get the federal Department of Labor (DOL) to understand the effects of the DOL’s proposed fiduciary and responsibility regulations. Click HERE to read more...
