Insurance Marketing Organizations Feel The DOL’s Freezer Burn

June 14, 2016 by Cyril Tuohy

U.S. Department of Labor regulators earlier this spring hit life and annuity wholesalers with a double whammy.

First, regulators made it harder for retail agents to sell fixed indexed annuity products, the shining star of the fixed annuity world.

Then regulators froze out the wholesalers, sometimes known as insurance or independent marketing organizations (IMOs), or field marketing organizations (FMOs), by excluding them from a list of regulated financial institutions authorized to certify the sale of a financial product under a new fiduciary contract.

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Originally Posted at InsuranceNewsNEt on June 10, 2016 by Cyril Tuohy.