Advocacy Update: December 10, 2007
NAIFA Comments on NASAA Proposed Rule on Use of Senior Designations
For More Information
Gary Sanders
703-770-8192
Legislators, regulators and the media have raised concerns in recent months over allegations regarding the possible misleading nature and use of certain designations. NAIFA has been actively engaged in this issue from the start—we have held conversations and meetings with Congressional staff (of the Senate Aging Committee and key members of the Committee), the North American Securities Administrators Association (NASAA, the NAIC-type association for state securities regulators), members of the NAIC leadership, the American College and the ACLI. In addition, NAIFA staff testified on this issue at the recently completed NAIC 2007 Winter National Meeting.
Most recently, NAIFA submitted written comments to NASAA in connection with NASAA’s proposed Model Rule on the Use of Senior-Specific Certifications and Professional Designations. A copy of the NASAA proposal, NAIFA’s comment letter and the letter submitted by the American College are attached for your review.