Fate of FIAs Rests With DOL Rule Retooling
July 8, 2017 by Cyril Tuohy
Could this week’s Department of Labor’s request for information on the fiduciary rule signal an opening for the return of fixed indexed annuity (FIA) sales under a less stringent exemption?
The possibility gives policy analysts like Judi Carsrud, government affairs director for the National Association of Insurance and Financial Advisors, hope that advisors will get another shot at making life easier for themselves in the years to come.
Nothing would please Carsrud and other annuity advocates more than if DOL regulators shifted FIAs out from the burdensome Best Interest Contract Exemption, or BICE, and back into the less-stringent Prohibited Transaction Exemption 84-24, or PTE 84-24.
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