Allianz FMO Proposes FINRA-Style Oversight of Insurance Agents
August 17, 2016 by Cyril Tuohy
InForce Solutions, a field marketing organization for the largest seller of fixed indexed annuities in the U.S., is proposing a similar structure used by broker-dealers as a way to supervise independent agents.
Broker-dealers are registered with and supervised by the Financial Industry Regulatory Authority, or FINRA, a self-regulatory organization.
The supervisory structure would allow InForce, an FMO for Allianz Life Insurance North America in Minneapolis, to review sales material and processes used by InForce agents.
InForce is one of six marketing organizations that applied to the Department of Labor to become a “financial institution,” which would allow for the sale of commission-based fixed indexed annuities by independent agents. Click HERE to read the full story. INN news articles may require a subscription to view.
